BCorp plans to sell stake in BAuto to SPV for RM766.75mil

Interview with Mazdas Datuk Seri Ben Yeoh. IZZRAFIQ ALIAS / The Star. April 17, 2014.

PETALING JAYA: Diversified group Berjaya Corp Bhd (BCorp) is selling its 21.88% interest in Berjaya Auto Bhd (BAuto) to a special purpose vehicle (SPV) that will be controlled by the management of the automotive company in a deal valued at RM766.75mil or RM2.10 per share.

The said management will also inject up to about 10% equity interest in BAuto into the SPV for a consideration of up to RM240.49mil in exchange for new shares representing a 66.67% stake in the SPV, according to a filing with Bursa Malaysia yesterday.