Berjaya unit buys stake in UK firm

Philippine Daily Inquirer

12:38 am | Saturday, March 8th, 2014

The local unit of Malaysian conglomerate Berjaya is acquiring a 50-percent stake in a British firm focusing on real estate development in London.

Berjaya Philippines said in a disclosure to the Philippine Stock Exchange that it had agreed to subscribe to 50,001 shares of RBW Holdings Ltd., a UK corporation that was established to acquire and develop real estate mainly in London.

The shares acquired comprise 50 percent plus one share of the total issued shares for a cash payment of £50,001 (about P3.72 million).

This investment was made to “take advantage of real estate opportunities in London,” the disclosure said.

In relation to the transaction, Berjaya Philippines agreed to extend a loan to RBW amounting to £50,001. Doris C. Dumlao

Follow Us

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Short URL: http://ift.tt/1n35Mif

Tags: acquisition , Berjaya , Business , rbw holdings ltd.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94

seo tools