KUALA LUMPUR: Yinson Holdings Bhd
has denied it is in discussions over a buyout, following reports that a group of shareholders was nearing a deal to take the company private in a transaction valuing it at about RM8bil.
“The company wishes to clarify that it is not in discussion with any third parties in respect of any buyout exercise,” the energy infrastructure group said in a filing with Bursa Malaysia.
The clarification comes after reports suggested that the Lim family, Yinson’s largest shareholder, was planning to team up with infrastructure investment firm Stonepeak Partners and several local pension funds to privatise the company via a scheme of arrangement.
Yinson, however, said that after consulting its major shareholder, Yinson Legacy Sdn Bhd (YLSB), it was informed that YLSB is in discussions with various parties regarding potential corporate proposals involving its shareholding in the group.
The company said it was advised of the matter by its group executive chairman, Lim Han Weng, who is also a representative of YLSB.
“However, there is currently no conclusive indication that such discussions will give rise to a corporate proposal involving Yinson,” it said.
Yinson added that it will make the necessary announcements in accordance with Bursa Malaysia’s listing requirements should any material corporate exercise arise.
It also reminded shareholders to exercise caution and seek appropriate advice when dealing in its shares.
