MISC acquires full ownership of FPSO Kikeh


KUALA LUMPUR: In its latest effort to streamline its business activities, MISC Bhd has announced the acquisition of SBM Holdings Inc SA's 49% interest in FPSO Kikeh, as well as the divestment of its 49% stake in FPSO Espirito Santo.

In a filing with Bursa Malaysia, the group said it has inked share sale and purchase agreements to purchase SBM's 49% equity interest in Malaysian Deepwater Floating Terminal (Kikeh) Limited (MDFT) and Malaysian Deepwater Production Contractors Sdn Bhd each.

The divestment portion of the deal involves the sale of 49% equity interest each in Brazilian Deepwater Production BV, Brazilian Deepwater Production Contractors Ltd, Brazilian Deepwater Production Ltd and Brazilian Deepwater Floating Terminals Ltd by MISC Offshore Holdings (Brazil) Sdn Bhd to SBM.

MISC said the proposed transactions are in line with its efforts to have full operational control of strategic assets within its portfolio.

"The proposed transactions will not have any effect on the share capital and shareholding of substantial shareholders of MISC.

"The proposed transactions are also not expected to have any material impact to the earnings per share, gearing and net assets per share of the MISC Group for the financial year ending Dec 31, 2024," it said.

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MISC , FPSO , Kikeh , Espirito Santo , SBM

   

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