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(From Business Times (Malaysia))
TAN Sri Syed Mokhtar Al-Bukhary will have to make a mandatory general offer (MGO) for the shares of Malaysia Mining Corp Bhd (MMC) and Johor Port Bhd following his proposed purchase of a company that has controlling stakes in both firms.
The low-profile tycoon yesterday signed a conditional agreement to acquire 100 per cent interest in Indra Cita Sdn Bhd for RM2.6 billion.
The purchase, if approved, will see Syed Mokhtar ending up with 40.3 per cent of MMC and 51.7 per cent of Johor Port.
MMC's latest annual report showed Syed Mokhtar's private vehicle Impian Teladan Sdn Bhd and Seaport Terminal (Johor) Sdn …