KUALA LUMPUR (Dec 18): Ekovest Bhd has issued a takeover notice to buy a 62% stake in Iskandar Waterfront City Bhd at RM1.50 per share, via a cash deal or a one-for-one share swap deal to take the latter private. As at Dec 11, Ekovest does not hold any shares in IWCity. The SSA will remain conditional until Ekovest’s shareholder approves the takeover of IWCity, at the EGM to be convened. Once the SSA turns unconditional, Ekovest’s volutary takeover bid for IWCity will turn mandatory. IWCity shares closed unchanged at RM1.32 today, valuing it at RM1.1 billion.

Source: The Edge Markets December 18, 2017 13:41 UTC