Sime Darby's move to dispose of 110 million ordinary stock units representing about 9.9% equity interest in E&O to Morning Crest, owned by E&O managing director Datuk Terry Tham Ka Hon (above), has dispelled talks of a takeover of E&O.
PETALING JAYA: Sime Darby Bhd
has reduced its stake in Eastern & Oriental Bhd (E&O) by 9.9% by selling it to Morning Crest Sdn Bhd for RM319mil, or RM2.90 per share.
The move has dispelled market talk that the conglomerate planned to launch a takeover of E&O.
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