Yinson buys Ezion of S’pore
PETALING JAYA: Floating production, storage and offloading (FPSO) provider Yinson Holdings Bhd is acquiring up to 70% of Singapore’s Ezion Holdings Ltd, in a deal that will see Yinson providing a cash outlay of US$200mil (RM815.3mil) for the troubled offshore asset supplier.
The acquisition will be financed via a combination of internally generated funds and bank borrowings.
Yinson, via wholly owned subsidiary Yinson Eden Pte Ltd, has proposed to enter into a conditional debt conversion and conditional option agreement for the proposed debt conversion and subscription.
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