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Yinson ups stake in Regulus Offshore to 70%

Yinson ups stake in Regulus Offshore to 70%
Malaysian oil and gas services provider Yinson Holdings is consolidating its position in Regulus Offshore, taking up an additional 21% for MYR469,460 ($110,085) and bringing its stake up from 49% to 70%.

The company said in a stock market filing that following the completion of the acquisition, Regulus Offshore is now a 70%-owned subsidiary of Yinson Holdings.

Regulus Offshore is mainly involved in the leasing of chartered vessels as well as the provision of ship and crew management services.

The acquisition is not expected to have any material impact on the earnings and net assets of the company for the financial year ending 31 January 2018.