PETALING JAYA: Icon Offshore Bhd
has received shareholder approval for the proposed acquisitions and name change to Lianson Fleet Group Bhd.
In a statement yesterday, the offshore support vessel provider said it had proposed to acquire equity stakes in Liannex Fleet Pte Ltd, Yinson Power Marine Sdn Bhd, Regulus Offshore Sdn Bhd and Yinson Camellia Sdn Bhd along with the consolidation of its ownership in Icon Bahtera (B) Sdn Bhd and Icon Waja (L) Inc for a total consideration of RM403.5mil.
The acquisitions will be satisfied through the issuance of 458.5 million shares of LFG at 88 sen each.
The acquisitions, expected to be completed by early February, will mark a significant milestone for LFG in aligning with its long-term strategic goals to strengthen its asset base, according to the statement.
