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BAssets unit buys shares in BLand, BToto

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BAssets unit buys shares in BLand, BToto Empty BAssets unit buys shares in BLand, BToto

Post by Cals Thu 26 Dec 2013, 21:57

BAssets unit buys shares in BLand, BToto
Business & Markets 2013
Written by Bernama   
Thursday, 26 December 2013 20:09

KUALA LUMPUR (Dec 26): Berjaya Assets Bhd's (BAssets) wholly-owned unit, Sublime Cartel Sdn Bhd, has acquired 100 million ordinary shares of 50 sen each in Berjaya Land Bhd (BLand), for RM73.5 million cash. 

In a filing to Bursa Malaysia today, BAssets said with the acquisition, the company now has 160.34 million BLand's shares, which represented 3.22 per cent stake in the latter.

It said Sublime has also acquired 1.07 million ordinary shares of 10 sen each in Berjaya Sports Toto Bhd (BToto), from Dec 24-26, 2013, for RM4.27 million cash. 

"BAssets now holds some 1.07 million, or 0.08 per cent, of BToto's shares," it said.

The company said the acquisitions were not expected to have any material effect on its consolidated net assets and earnings, for the current financial year ending June 30, 2014.
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