KUALA LUMPUR: Sime Darby Bhd says a unit in China is buying a 65% equity interest in a motor vehicle sales and services company based in Yunnan province for RM11.83mil. “The proposed acquisition is to further strengthen the Sime Darby Group’s footprint in the Yunnan province,” it said in a filing with Bursa Malaysia on Friday. Sime Darby said it has already obtained the written consent from BMW China Automotive Trading Ltd and BMW Brilliance Automotive Ltd for this equity transfer. “Upon completion of the proposed acquisition, QJBK will become an indirect 65%-owned subsidiary of Sime Darby,” it said. Sime Darby expects to complete the deal by end of January, or latest by June, 2019.

Source: The Star December 21, 2018 09:45 UTC