KUALA LUMPUR: UMW Holdings Bhd is offering nearly RM1 billion to buy substantial stakes in Perusahaan Otomobil Kedua Sdn Bhd (Perodua) and automotive group MBM Resources Bhd. UMW currently holds a 38 per cent stake in Perodua, while MBM Resources owns 22.58 per cent stake. UMW offered to buy a 50.07 per cent stake in MBM Resources Bhd from Med-Bumikar Mara Sdn Bhd for RM501 million. The proposal will trigger the mandatory offer for the remaining shares in MBM Resources. UMW, in a filing to Bursa Malaysia, said it did not intend to maintain MBM Resources’ listing status.

Source: New Strait Times March 09, 2018 12:05 UTC