Yinson Holdings has walked away from a deal to rescue struggling Singapore offshore vessel operator Ezion Holdings, a regulatory filing shows.
As a consequence, the Malaysian specialist of floating production, storage and offloading vessels will reportedly forfeit a $20m deposit paid earlier this year as part of the initial deal.
“The major secured lenders collectively and the subscriber have not been able to reach an agreement in relation to new terms to replace earlier transaction agreements,” Ezion said in the filing.
