KUALA LUMPUR: UMW Holdings Bhd is planning to take over MBM Resources Bhd in a deal that will ultimately give it a controlling stake in carmaker Perusahaan Otomobil Kedua Sdn Bhd (Perodua). Under the first part of the deal, UMW Holdings will acquire a 50.07% stake in MBM Resources from Med-Bumikar Mara Sdn Bhd for RM501mil, or RM2.56 per share. “UMW Holdings does not intend to maintain the listing status of MBM Resources,” it said. After the completion of the MBM Resources’ takeover, UMW Holdings said it would offer to buy PNB Equity Resources Sdn Bhd’s 10% stake in Perodua for RM417.5mil. Assuming full acceptance of UMW Holdings’ proposed mandatory offer for MBM Resources, the company’s effective interest in Perodua will increase from 38% to 60.6%.

Source: The Star March 09, 2018 12:45 UTC