Liannex initiates full takeover of Icon Offshore

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.