PETALING JAYA: Coffee manufacturer and operator of cafe outlets OldTown Bhd has received notice of a buyout offer from Dutch coffee company Jacobs Douwe Egberts (JDE) in deal worth RM1.47bil. Bloomberg data show that OldTown currently trades at a historical price earnings of 19.9 times and forward earnings of 19.2 times. The report also indicated that this was above the industry average price earnings ratio (PE) of 20 times earnings. For OldTown, JDE’s offer price is also above the Bloomberg analyst consensus 12-month target price of RM2.91. OldTown group managing director Lee Siew Heng said they looked forward to drawing on JDE’s global expertise and building a highly successful partnership.

Source: The Star December 11, 2017 23:48 UTC