US infrastructure and real estate investment firm Stonepeak is holding exclusive talks to take Kuala Lumpur-listed energy infrastructure firm Yinson Holdings Bhd private, according to a Bloomberg report.
The deal may value the firm at as much as 9 billion ringgit (about $2.1 billion), per the report, and could be one of the biggest deals in Malaysia this year.
New York-based Stonepeak is partnering with the Lim family, Yinson’s founder and largest shareholder, for a buyout. The Lim family held a 26.6% stake in Yinson as of May 30.
Yinson Holdings Berhad is a Malaysia-based global energy infrastructure and technology company known for its offshore oil and gas operations and growing presence in renewable energy and green technologies.
The Bloomberg report, which quoted people familiar with the transaction, however, said there is no certainty that a deal will be reached.
Founded in 1984, Yinson operates one of the world’s leading fleets of floating production, storage, and offloading (FPSO) vessels through its Yinson Production unit.
The company has since diversified with Yinson Renewables, which manages utility-scale solar and wind assets, and Yinson GreenTech, which focuses on electric mobility and marine electrification.
In March, Yinson Greentech’s electric charging business, chargeEV, secured investment from Malaysian sovereign wealth fund Khazanah Nasional Berhad. The investment was made through Khazanah’s 6-billion-ringgit ($1.36-billion) Dana Impak programme.
Last year, Stonepeak announced the final close of its maiden Asia-Pacific fund—Stonepeak Asia Infrastructure Fund—at $3.3 billion. The fund seeks to invest in telecom, transportation, logistics, and energy transition.
It recently entered into a $1 billion strategic partnership with The Arab Energy Fund to invest in energy and infrastructure across the Middle East. The partnership targets to invest in critical energy projects.
