Yinson sheds one of five spin-offs to home in on FPSO and energy transition business arenas

(offshore-energy.biz) Kuala Lumpur-based energy infrastructure and technology company Yinson Holdings, which currently invests in five business units – Yinson Production, Yinson Renewables, Yinson GreenTech, Farosson, and Regulus Offshore – has set the wheels in motion to part with the last affiliate on this list, which offers integrated offshore support vessel (OSV) services.

Given Yinson’s strategic goal of directing its attention to its floating production, storage, and offloading (FPSO) and energy transition areas of business, the Malaysian player has made a new divestment move, enabling Icon Offshore to take over its offshore marine business, Regulus Offshore, which owns and charters OSVs and floating support solutions units.

The disposal, executed via a binding term sheet the duo signed for a consideration of RM 160 million (over $37.03 million), will be completed via the issuance of new shares by Icon at RM 0.88 ($0.20) per share, subject to the approval of the buyer’s shareholders and relevant government authorities.

Read full article: https://www.offshore-energy.biz/yinson-sheds-one-of-five-spin-offs-to-home-in-on-fpso-and-energy-transition-business-arenas/