Yinson in early talks on potential privatisation
KUALA LUMPUR: Yinson Holdings Bhd has confirmed that its major shareholder Yinson Legacy Sdn Bhd is in preliminary discussions with MISC Bhd and other stakeholders over a potential proposal to take the company private.
KUALA LUMPUR: Yinson Holdings Bhd has revealed that its primary shareholder, Yinson Legacy Sdn Bhd, has initiated preliminary talks with MISC Bhd and other parties regarding a potential privatization of the company. Yinson disclosed that Yinson Legacy sent a letter to the company on today's date, stating that they are exploring a possible privatization through a scheme of arrangement under Section 366 of the Companies Act 2016.
The discussions encompass Yinson Legacy, MISC, and additional stakeholders, such as affiliates of Yinson Legacy and the Employees Provident Fund. Yinson emphasized that the proposal is still in its early stages and contingent upon further evaluation and negotiations among the involved parties. To proceed, any potential agreement would necessitate the signing of definitive contracts, the establishment of an offer price, and the fulfillment of various regulatory and other approvals and conditions.
The company cautioned that there is no assurance the talks will culminate in the execution of the proposed scheme.
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