70 per cent of funding will come from bank borrowings -- Yinson

Yinson Holdings Bhd, which plans to acquire Norwegian company Fred Olsen Production ASA, said that almost 70 per cent of its funding will come from bank borrowings.

The company's acquisition is expected to cost a total of RM576 million. This includes the estimated expenses of the proposed acquisition of RM25 million.

In its filing to Bursa Malaysia on Wednesday, the company said RM400 million is expected to come from bank borrowings.

It added that proceeds from its proposed private placement, proposed share issuance and internally generated funds will contribute RM56 million, RM106 million and RM14 million respectively.