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Yinson makes $172m offer for Fred Olsen Production

Yinson makes $172m offer for Fred Olsen Production
Malaysia's Yinson Holdings has made a conditional takeover offer to acquire Fred Olsen Production (FOP) for NOK995.74m ($172.1m) or NOK 9.40 per share.

The offer has been unanimously recommended by FOP's board, with pre-acceptance from the company's majority shareholder representing 61.54% of the total issued shares and votes of the company.

FOP and its subsidiaries own and operate a fleet of three FPSOs, one of which is owned on a 50/50 joint venture, and a mobile offshore production unit (MOPU) for an oil company client.