KUALA LUMPUR (June 9): Yinson Holdings Bhd (KL:YINSON) said on Monday it isn't engaged in discussions with any third parties regarding a buyout exercise, following a report that the group was in exclusive talks with New York-based infrastructure investment firm Stonepeak Partners.
But it has been advised by its group executive chairman Lim Han Weng that the group's major shareholders are in exploratory discussions with "various parties with reference to potential corporate proposal(s) regarding their shareholding in Yinson".
"However, given that the discussions are still at an exploratory stage, there is currently no conclusive indication that the discussions would give rise to a corporate proposal involving Yinson," the group said in a bourse filing, adding it will make the necessary announcement if this changes.
It also urged shareholders to exercise caution and seek appropriate advice when dealing in its shares.
As of May 30, the Lim family held a 26.6% stake in Yinson.
Last Friday, Bloomberg reported, citing sources, that Stonepeak Partners was in exclusive talks for a buyout of Yinson, which could value the firm at up to RM9 billion (US$2.1 billion).
Yinson rallied following the report, rising nearly 14%. On Monday, Yinson shares slipped one sen or 0.4% to close at RM2.33, bringing the group’s market valuation to RM7.17 billion.
Prior to the report, Yinson shares had dropped by as much as 33.7% year to date. As of Monday, the stock is down 11.7% YTD.