Jotech, AIC and AutoV to merge

by **hlk** Fri 29 Jul 2011, 19:25

KUALA LUMPUR: Special purpose company, Temasek Formation Sdn Bhd has proposed to acquire the entire interests including all assets and liabilities of JOTECH HOLDINGS BHD [], AIC CORPORATION BHD [] and AutoV Corporation Bhd for RM696 million with a view to merger the companies to create a larger entity.

Its chairman Datuk Goh Tian Chuan said the company plans to create a larger group in terms of market capitalisation, streamline the multi-tiered shareholding structure as well as unlock potential intrinsic values of the target companies.

He said the merger wouldl be executed via the issuance of new Temasek Fomation shares to existing shareholders of AIC, Jotech and AutoV as well as to warrant shareholders of these companies respectively.

by thk Fri 29 Jul 2011, 21:26

It doesn't look like a good deal Thumbs Down

15 TFSB shares for one (1) AIC share (1.49)
3 TFSB sgares for 2 Jotech shares (about 30 sen)
Jotech last traded at 15.5 sen and hence lost 1 sen.
Will the minority shareholders reject the deal???

Jotech, AIC and AutoV to merge

Jotech, AIC and AutoV to merge

Re: Jotech, AIC and AutoV to merge