Yinson buys Ezion of S’pore

TheStar Tue, Apr 02, 2019 08:00am - 4 years View Original


When contacted, Yinson group CEO Lim Chern Yuan(pic) told StarBiz that the acquisition of Ezion would grant the group an avenue to expand its income base and income diversity within the energy space.

When contacted, Yinson group CEO Lim Chern Yuan(pic) told StarBiz that the acquisition of Ezion would grant the group an avenue to expand its income base and income diversity within the energy space.

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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