Malaysia's Yinson Holdings said on Friday that its major shareholder is currently engaged in preliminary discussions to privatise the energy infrastructure firm, valuing it at MYR6.87 billion ($1.71 billion).
The firm's major shareholder Yinson Legacy is offering an indicative price of MYR2.35 apiece for acquiring the shares it already does not hold in Yinson Holdings, a 9.3 per cent premium to the stock's last close.
Yinson Legacy holds a 24.68 per cent stake in the Malaysia-listed firm, as per LSEG data.
"The final offer price remains subject to change based on, among others, due diligence and commercial viability of the proposed scheme," Yinson Legacy said in a letter to the company.
Yinson Legacy added that there can be no assurance that the discussions will lead to or result in the implementation of the proposed offer.
Separately, shipping company MISC said that it is part of the consortium with Yinson Legacy for the proposed privatisation of Yinson Holdings.
(Reporting by Nikita Maria Jino in Bengaluru; Editing by Shailesh Kuber)