MISC, SBM Ink Equity Swap Deal for FPSO Vessel Stakes

MT Newswires Live

Sep 09, 2024

MISC (KLSE:MISC) agreed with Netherlands-based floating production storage and offloading (FPSO) operator SBM Holding to exchange ownership interests on two FPSO vessels, according to a Friday Malaysian bourse filing.

The company's unit MISC OBU One (L) will buy a 49% equity interest from SBM in Malaysian Deepwater Floating Terminal (Kikeh), and Malaysian Deepwater Production Contractors each.

Meanwhile, MISC Offshore Holdings (Brazil) will offload 49% equity interest each in Brazilian Deepwater Production B.V., Brazilian Deepwater Production Contractors, Brazilian Deepwater Production, and Brazilian Deepwater Floating Terminals to SBM.

Shares of the shipping company gained about 2% recently.

Price (MYR): $8.04, Change: $+0.12, Percent Change: +1.52%

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