Malaysian floating production specialist Yinson Holdings said on 30 July that it will buy the FPSO Four Rainbow.
The transaction will be done jointly with Four Vanguard Servicos E Navegacao LDA, the Portuguese unit of Italian tanker owner Premuda.
The joint venture will buy the vessel from FVSN, another Premuda subsidiary, for EUR60 million (USD65.7 million). Cash, EUR19.6 million worth of ordinary shares and a EUR20 million convertible note in the JV would be used to pay for the vessel.
Yinson said in a Bursa Malaysia filing that the transaction is in line with its fleet expansion plan, adding that the FPSO could be leased to charterers for oil production in Southeast Asia and West Africa.