Latest news with #StonepeakPartners
Malaysian Reserve
an hour ago
- Business
- Malaysian Reserve
Yinson continues to surge on takeover report, CIMB Sec maintain RM2.93 target price
OIL-AND-GAS services firm Yinson Holdings Bhd continued to surge in early trading today after potential buyout talks. At 9.30am today, the counter was up 6 sen or 2.6% to RM2.40, with 5.6 million shares exchanging hands. On June 6, Bloomberg reported that US-based Stonepeak Partners was in exclusive talks with the Lim family, led by Lim Han Weng, which holds a 26.6% stake in Yinson, to take the company private, in a deal that could value the group at up to RM9 billion (US$2.1 billion). In a report today, CIMB Securities noted that the New York-based infrastructure investment firm Stonepeak Partners was reported to be in exclusive talks to acquire Yinson. It said the valuation equated to RM3.23 per share based on 2,784 million existing shares in Yinson, and represents a 38.0% premium over the last closing price of RM2.34 and a 10.2% premium to its target price of RM2.93. If the report is accurate, this could potentially lead to a privatisation offer for the remaining Yinson shares, it added. 'In our view, the exclusivity arrangement indicates that the deal has entered advanced stages of negotiation, with the Lim family — Yinson's founder — holding a 26.6% stake. 'Stonepeak's investment focus appears aligned with Yinson's strategic direction. Yinson fits Stonepeak's preference for infrastructure-based, cash-generating assets with long-term contracts. This deal would also help Stonepeak increase its exposure in Asia Pacific energy infrastructure, where Yinson has already established a solid and growing footprint,' CIMB Securities said in the report. –TMR
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
Yinson surges 14% on RM9bil buyout news
US-based Stonepeak Partners is holding 'exclusive talks' with the family of Yinson founder Lim Han Weng. (Facebook pic) PETALING JAYA : Yinson Holdings Bhd shares surged today on news a US investment fund is in talks for a buyout of the oil and gas services provider, potentially valuing it as much as RM9 billion. Its shares jumped as much as 29 sen or almost 14% to RM2.39 this morning, its highest level in five months. At the midday break, a total of 9.5 million shares changed hands. The counter pared its gains in the afternoon session and was trading at RM2.29 at 3.40pm, valuing the group at RM7.05 billion. Before today's run-up, Yinson shares have fallen about 17% year to date. Investors snapped up the stock after Bloomberg reported today that US-based Stonepeak Partners is holding 'exclusive talks' with the Lim family, which holds a 26.6% stake in Yinson, to take the company private. The Bloomberg report quoted sources with knowledge of the matter. Yinson has yet to comment on the purported deal. The RM9 billion proposal translates to about RM3.23 per share, a premium of about 37.5% over today's midday price of RM2.35, and 54% over yesterday's RM2.10 closing price. Of the 10 research houses covering Yinson, all have 'buy' calls with an average 12-month target price of RM3.54. From lorry company to global player Yinson was founded by its executive chairman, Lim Han Weng, 72, and his wife, Bah Kim Lian, in 1984, as a lorry transport company before diversifying into the oil and gas sector. In 1996, Yinson went public and continued to expand its global presence. It is now one of the world's biggest providers of floating production, storage, and offloading (FPSO) vessels, which are used to extract and store crude oil. Forbes lists Han Weng and his family's net worth at US$480 million (RM2.03 billion) as of April 16. His son, Chern Yuan, is the group's CEO while another son, Chern Wooi, is executive chairman of listed Lianson Fleet Group Bhd (formerly Icon Offshore Bhd), which was acquired in 2024. The company has US$21 billion (RM88 billion) worth of leasing contracts extending till 2048, according to Forbes. Yinson is also in the business of producing renewable energy and building electric vehicle charging networks. For the financial year ended Jan 31, 2025, the group posted a net profit of RM752 million, down 22% year-on-year, while revenue fell 38% to RM7.6 billion from RM11.65 billion a year earlier.
Bloomberg
3 days ago
- Business
- Bloomberg
Stonepeak Is Said in Exclusive Talks for Buyout of $2.1 Billion Yinson
Stonepeak Partners is in exclusive talks for a buyout of Yinson Holdings Bhd. that may value the firm at as much as 9 billion ringgit ($2.1 billion), according to people with knowledge of the matter, in what could be one of the biggest deals in Malaysia this year. New York-based Stonepeak is teaming up with the Lim family, Yinson's founder and biggest shareholder, to take the Kuala-Lumpur-listed energy infrastructure company private, said the people, asking not to be identified because the discussions aren't public. The Lim family owned 26.6% of Yinson as of May 30.
Bloomberg
29-05-2025
- Business
- Bloomberg
Broadband Operator Radiate Gets More Cash, Revamps Debt Stack
Stonepeak Partners -backed Radiate launched a deal to raise $400 million in fresh capital from its owner and also restructure existing debt, according to people with knowledge of the matter. The liquidity injection will be split across a second-out term loan and a third-out loan, said the people, who asked not to be identified discussing a private matter. The financing will pay-in-kind, which allows the cable provider to defer paying interest in cash and instead pay with additional debt, they said.
Times
17-05-2025
- Business
- Times
Improved bid intensifies battle for NHS landlord Assura
A battle for control of a landlord of hundreds of British doctors' surgeries has intensified as Assura received an improved bid from a fellow property investor valuing the business at close to £1.7 billion. Assura said that Primary Health Properties (PHP), another major NHS landlord, had returned with an improved offer after a previous bid was rejected in April. The latest PHP bid, worth £1.68 billion, is also higher than the £1.61 billion offered by KKR and Stonepeak Partners, the American private equity giants, which Assura said it had accepted last month. Assura said: 'The board of Assura is currently reviewing the PHP offer with its advisers. A further announcement will be made in due course. In the meantime, shareholders are advised to take
