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Vincent Tan’s Berjaya buys controlling stake in UK property firm

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Vincent Tan’s Berjaya buys controlling stake in UK property firm Empty Vincent Tan’s Berjaya buys controlling stake in UK property firm

Post by Cals Mon 10 Mar 2014, 13:57

Vincent Tan’s Berjaya buys controlling stake in UK property firm
Business & Markets 2014
Written by Chong Jin Hun of theedgemalaysia.com   
Monday, 10 March 2014 13:56

KUALA LUMPUR (Mar 10): Berjaya Sports Toto Bhd's unit Berjaya Philippines Inc has acquired a controlling stake of 50% plus one share in RBW Holdings Ltd for GBP50,001  (RM274,620).

In a statement to Bursa Malaysia today, Berjaya Sports Toto, controlled by tycoon Tan Sri Vincent Tan, said RBW was formed to acquire and develop real estate in the UK. RBW will focus on the London property market.

Berjaya Sports Toto said the RBW acquisition was "to take advantage of real estate opportunities in London". 

According to  Berjaya Sports Toto, it had acquired the stake at RBW shares' par value of GBP1 each last Thursday (March 6).

In a separate statement, Berjaya Sports Toto said it had extended a GBP300,000 loan to RBW.
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