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NewsYinson’s order book rises to RM7.5b with Fred. Olsen acquisition
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Yinson’s order book rises to RM7.5b with Fred. Olsen acquisition
by Cals Mon 23 Dec 2013, 01:31
Published: Friday December 20, 2013 MYT 9:11:00 PM
Updated: Friday December 20, 2013 MYT 9:13:22 PM
Yinson’s order book rises to RM7.5b with Fred. Olsen acquisition
KUALA LUMPUR: Yinson Holdings Bhd’s order book has increased to about RM7.5bil as it now owns 97.1% of Norway’s Fred. Olsen Productions ASA (FOP) after it completed the settlement to the latter's shareholders.
It said on Friday the acquisition increased its offshore services fleet size to four floating production, storage and off-loading facility, one floating storage and off-loading facility (FSO).
“These additional assets with its attaching long term contracts will increase the company’s order book to approximately RM7.5bil in total,” it said.
The 97.1% stake accounts for 102.82 million FOP shares and Yinson intends to compulsorily acquire the remaining shares. It will also propose that FOP applies to be delisted from the Oslo Stock Exchange.
Yinson expects the compulsory acquisition of the remaining shares will be effected mid-January 2014.
Updated: Friday December 20, 2013 MYT 9:13:22 PM
Yinson’s order book rises to RM7.5b with Fred. Olsen acquisition
KUALA LUMPUR: Yinson Holdings Bhd’s order book has increased to about RM7.5bil as it now owns 97.1% of Norway’s Fred. Olsen Productions ASA (FOP) after it completed the settlement to the latter's shareholders.
It said on Friday the acquisition increased its offshore services fleet size to four floating production, storage and off-loading facility, one floating storage and off-loading facility (FSO).
“These additional assets with its attaching long term contracts will increase the company’s order book to approximately RM7.5bil in total,” it said.
The 97.1% stake accounts for 102.82 million FOP shares and Yinson intends to compulsorily acquire the remaining shares. It will also propose that FOP applies to be delisted from the Oslo Stock Exchange.
Yinson expects the compulsory acquisition of the remaining shares will be effected mid-January 2014.
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