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BFood buys stake in Berjaya Starbucks
by hlk Fri 26 Aug 2011, 08:31
BERJAYA Foods Bhd (BFood) signed a conditional shares sale pact with Berjaya Group Bhd to buy 11.5 million RM1 shares, or a 50 per cent stake, in Berjaya Starbucks Coffee Co Sdn Bhd for RM71.7 million.
To raise funds for the acquisition, BFood plans a renounceable rights issue of up to 118.9 million new BFood shares, together with up to 118.9 million new free detachable warrants on the basis of four rights shares together with four free warrants for every five BFood shares held at an issue price of 65 sen per rights share.
To raise funds for the acquisition, BFood plans a renounceable rights issue of up to 118.9 million new BFood shares, together with up to 118.9 million new free detachable warrants on the basis of four rights shares together with four free warrants for every five BFood shares held at an issue price of 65 sen per rights share.
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