Yinson Production, a Singapore-based floater owner, secures a $1bn investment from an international consortium led by Abu Dhabi Investment Authority’s subsidiary, British Columbia Investment Management Corporation, and RRJ Group, through a UK-based holding company. The funds will support the company’s growth and provide a $200m distribution to the controlling shareholder, with the transaction expected to close in Q1 2025. With a fleet of 10 vessels and an orderbook exceeding $22bn until 2048, Yinson Production aims to strengthen its market position in the FPSO sector.
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Stagwell revenue up 10% organically in last quarter of 2024 | News
Stagwell reported a strong performance in Q4 2024 with a 10% organic net revenue increase, totaling $629.6 million, and a net income of $15.8 million, down from the previous year. Despite a full-year net revenue increase of 5.2% to $2.3 billion, net income decreased to $25 million. The company's chairman and CEO, Mark Penn, highlighted 2024 as a breakthrough year, mentioning significant acquisitions, client wins, and leadership changes within their PR agencies. Full Article
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