PETALING JAYA: MISC Bhd
’s proposal to get full control of FPSO Kikeh, offshore Sabah, while divesting its interest in FPSO Espirito Santo in Brazil, is expected to have minimal impact on its earnings and valuation.
The energy-related maritime solutions and services provider had signed a share sale and purchase agreements (SPAs) with SBM Holding Inc SA in relation to the acquisition of SBM’s 49% stake in FPSO Kikeh and the divestment of MISC’s 49% stake in FPSO Espirito Santo. Upon completion of the exercises in January 2025, MISC will fully own of FPSO Kikeh, while SBM will fully own FPSO Espirito Santo.
