Oslo: Norway’s Fred Olsen Production (FOP) announced that the takeover offer by Yinson Holdings has now closed with Yinson taking 97% of the outstanding shares and votes in Oslo-listed FOP. Yinson will proceed with the official takeover of FOP, likely to be concluded before year end.
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. [04/09/13]
