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MALAYSIA'S SIME DARBY TO ACQUIRE 29.9 PCT STAKE IN SINGAPORE SHIPPING FIRM.
(From Asia Pulse)
KUALA LUMPUR, Sept 13 Asia Pulse - Sime Darby Berhad (SDB) (KLSE:SIME) has signed an agreement to acquire an initial 29.9 per cent stake in Singapore shipping firm Jaya Holdings Limited (SGX:JAYA).
It will acquire 223,019,640 shares in Jaya from five vendors at a price of S$1.00 (US$0.59) per share, it said in a filing to Bursa Malaysia.
The agreement was signed by SDB's wholly-owned subsidiary, Sime Darby Eastern Limited, and five shareholders of Jaya on 10 Sept 2004.
SDB also said it has been granted an option to acquire at least another 15 per cent stake in the Singapore shipping firm.
Currently, the Jaya …
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