MISC explores consortium role in potential Yinson privatization
MISC Group, a Petronas subsidiary and an owner and operator of offshore floating assets and provider of energy-related maritime solutions and services, is weighing a role in a potential consortium that could take Kuala Lumpur-headquartered Yinson, an energy infrastructure company focused on offshore production, renewables and green technologies, private in a deal that is currently being discussed at an indicative price of RM2.35 ($0.58) a share.
The Malaysian shipping and energy company has revealed that it is engaged in preliminary talks with Yinson Legacy, affiliates of Yinson Legacy and the Employees Provident Fund (EPF), over a potential scheme of arrangement for Yinson, whose offshore business, Yinson Production, is a major independent owner and operator of floating production units.
If the transaction moves forward, the consortium would seek to acquire the remaining shares in the Kuala Lumpur-headquartered company that are not already held by Yinson Legacy and parties acting in concert with it. EPF would retain its existing effective stake in
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