Posted by Jimmy Song > 2013-12-23 08:11 | Report Abuse

YINSON COMPLETES FRED. OLSEN ACQUISITION ______________________________________________________ KUALA LUMPUR, MALAYSIA 20 DECEMBER 2013 - YINSON HOLDINGS BERHAD (“Yinson”, the “Company” or “云升控股有限公司”), has announced this evening that it has fully completed the settlement to the shareholders of Fred. Olsen Productions ASA (FOP) who had accepted the Offer in respect of the 100% acquisition of the ordinary shares of NOK1.00 each in FOP (“FOP Shares”) for NOK9.40 (equivalent RM5.20) in cash per FOP Share (“Acquisition”) Subsequent to the settlement and completion of the Offer, Yinson now owns 102,823, 421 FOP Shares translating to 97.1% of the outstanding FOP shares and votes in FOP. The Acquisition sees Yinson increasing its current offshore services fleet size to four (4) Floating Production, Storage and Off-Loading Facility (“FPSOs”), one Floating Storage and Off-Loading Facility (“FSO”). These additional assets with its attaching long term contracts will increase the Company’s order book to approximately RM7.5 billion in total. Upon the completion of the Offer, Yinson intends to initiate a compulsory acquisition of the remaining FOP Shares not owned by YHB, and to propose that FOP applies for a delisting of FOP Shares from the Oslo Stock Exchange. It is expected that a compulsory acquisition of the remaining FOP Shares will be effected mid-January 2014.