Liannex initiates full takeover of Icon Offshore

TheStar Wed, Mar 27, 2024 12:00am - 1 month View Original


Yinson chairman-controlled Liannex Maritime bought the Icon shares from Ekuiti Nasional Bhd.

PETALING JAYA: Liannex Maritime Sdn Bhd, which is controlled by the chairman of Yinson Holdings Bhd, has launched a mandatory takeover of Icon Offshore Bhd, triggered by its acquisition of a 50.2% stake in the offshore support vessel (OSV) provider, yesterday.

The acquisition was equivalent to the purchase of 272 million shares of Icon, at a price of 63.5 sen per share with a cash consideration of RM172.7mil.

The unconditional mandatory takeover offer would see Liannex Maritime, a full subsidiary of Liannex Corp (S) Pte Ltd, sweep up the remaining 49.8% stake – or 269.6 million shares – of Icon, at the same share price, as well as the existing employee’s share option scheme of Icon.

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