Yinson nears completion of FOP takeover

Kuala Lumpur: Yinson Holdings has informed the Kuala Lumpur stock exchange that it has met all the necessary requirements in its planned takeover of Norway’s Fred Olsen Production (FOP). The actual takeover will now take place within three weeks, Yinson said.
Yinson currently owns three OSVs and via a jv with Petrovietnam Technical Services Corporation it also has one FSO and an FPSO set to deliver at the end of the year. FOP, meanwhile, owns a fleet of three floating production storage and offloading units and a jack up rig.  [02/12/13]

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