KUALA LUMPUR: A consortium comprising MISC Bhd and Yinson Holdings Bhd’s (YHB) major shareholders Yinson Legacy Sdn Bhd (YLSB) and the Employees Provident Fund (EPF) have proposed to take YHB private in a deal valued at RM4.03 billion.
The proposal involves acquiring the remaining ordinary shares in the global energy infrastructure company at RM2.50 apiece through a members’ scheme of arrangement under Section 366 of the Companies Act 2016.
In a filing with Bursa Malaysia, MISC said the joint offerors have served a proposal letter to YHB’s board of directors for its consideration.
According to the letter, the joint offerors and joint ultimate offerors – including YHB group executive chairman Lim Han Weng – do not intend to maintain the company’s listing status.
