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NewsCIH: RM600m offer not reflective of Permanis value
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CIH: RM600m offer not reflective of Permanis value
by hlk Tue 05 Jul 2011, 17:40
KUALA LUMPUR: C.I. HOLDINGS BHD [] has alluded that its subsidiary Permanis Sdn Bhd is valued higher than the US$200 million (RM600 million) which was speculated to be the offer made by Asahi Group Holdings Ltd.
CI Holdings said on Tuesday, July 5 it was always looking for opportunities to further optimise shareholder value and it had engaged in exploratory discussions with various parties.
“The facts of all such exploratory discussions are in a state of flux but to date no definitive or conclusive terms have been agreed upon,” it said in response to a news report.
As for the price tag of US$200 million, it said: “CIH believes in the strong future potential of Permanis' business and is of the opinion that the offer price of US$200 million (RM600 million) quoted in the aforementioned article does not reflect Permanis' value”.
CI Holdings said on Tuesday, July 5 it was always looking for opportunities to further optimise shareholder value and it had engaged in exploratory discussions with various parties.
“The facts of all such exploratory discussions are in a state of flux but to date no definitive or conclusive terms have been agreed upon,” it said in response to a news report.
As for the price tag of US$200 million, it said: “CIH believes in the strong future potential of Permanis' business and is of the opinion that the offer price of US$200 million (RM600 million) quoted in the aforementioned article does not reflect Permanis' value”.
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