Ivory Properties' subsidiary ends RM400m deal with Plaza Rakyat

KUALA LUMPUR: Ivory Properties Group Bhd's subsidiary has mutually terminated its agreement to buy project assets from Plaza Rakyat Sdn Bhd in a RM400mil cash deal.

It announced its 65% owned Ivory Place Sdn Bhd and Plaza Rakyat, which are the receiver and manager, could not agree on the terms to extend the period involving the acquisition and rehabilitation agreement.