Yinson appoints financiers

KUALA LUMPUR: Yinson Holdings Bhd has appointed Malayan Banking Bhd (Maybank), United Overseas Bank (UOB) Ltd and AmInvestment Bank as the financiers for its proposed acquisition on Norwegian Fred Olsen Production ASA. In a statement, Yinson said Maybank will serve as the financial adviser for the deal and UOB as facility and security agent. AmInvestment will undertake the role as principal adviser. Yinson announced its plan to buy over Fred Olsen for RM576 million on June 10. This acquisition will be funded by bank borrowings of RM400 million while the balance of RM176 million will be met by proposed private placement, new share issuance and internally generated funds.