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Jardine Cycle & Carriage to acquire remaining shares in Cycle & Carriage Bintang at RM2.40 per offer share

Felicia Tan
Felicia Tan3/17/2021 6:59 PM GMT+08  • 2 min read
Jardine Cycle & Carriage to acquire remaining shares in Cycle & Carriage Bintang at RM2.40 per offer share
Should the offer be fully accepted, the total consideration of the offer shares will stand at RM98.9 million.
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Jardine Cycle & Carriage (Jardine C&C) has submitted a notice of an unconditional voluntary take-over offer to the board of directors of Cycle & Carriage Bintang Berhad (C&C Bintang).

Jardine C&C currently holds 59.1% of the shares in C&C Bintang, which is listed on the Main Market of Bursa Malaysia.

Under the offer, Jardine C&C will seek to acquire the remaining shares it does not own in C&C Bintang at a consideration of RM2.40 (78.43 cents) per offer share.

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