8 hours ago
- Business
- Malaysian Reserve
Yinson denies buyout talks, confirms chairman in early-stage shareholding discussions
YINSON Holdings Bhd has denied being in any discussions with third parties regarding a potential buyout of the company.
In a filing with Bursa Malaysia today, the oil and gas services provider clarified that it is not involved in any corporate exercise at this time.
However, it acknowledged that its executive chairman, Lim Han Weng, is currently engaged in 'exploratory discussions' with various parties over potential corporate proposals related to his shareholding in the company.
'Given that the discussions are still at an exploratory stage, there is currently no conclusive indication that these would result in a corporate proposal involving Yinson,' the company stated.
Yinson assured that it will make the necessary announcement in accordance with Bursa Malaysia's Main Market Listing Requirements should any corporate exercise materialise.
The clarification comes after Bloomberg reported that New York-based Stonepeak Partners is in exclusive talks to acquire Yinson in a deal that could value the group at up to RM9 billion (US$2.1 billion), citing unnamed sources.
If confirmed, the transaction could rank among Malaysia's largest deals this year. –BLOOMBERG
