Yinson’s Ezion deal deemed attractively priced

Yinson has agreed with Ezion’s lenders to buy over its debts at a discount and to take a 63.4% stake in Ezion for US$150mil in cash.

PETALING JAYA: Yinson Holdings Bhd’s revised proposal to acquire majority interest in Ezion Holdings Ltd for US$150mil (approximately RM628mil) has been deemed “attractively priced, ” according to CGS-CIMB Research.

The research firm said in a note yesterday that the acquisition will be made at a price-to-book value multiple of 0.66 times against a heavily written-down book value.