Malaysian government-linked private equity firm Ekuiti Nasional (Ekuinas) said Tuesday it has sold a 50.2% stake in oil and gas services company Icon Offshore to Liannex Maritime for 172.7 million ringgit ($36.61 million) in cash.
The sale reduced Ekuinas‘ stake in ICON to 5.8%, it said in a statement. It added that it had recorded cumulative gains of over 500 million ringgit over the more than 10 years it has been invested in ICON.
Liannex is owned by Lim Han Weng, chairman and major shareholder of Malaysian energy infrastructure company Yinson Holdings, according to the statement.
