THE Securities Commission has granted conditional approval to Matrix International Bhd for its proposed acquisition of Berjaya Times Square Sdn Bhd (BTS).
Matrix has proposed to acquire the entire 320.6 million shares in BTS for RM784mil by issuing 560 million of its new shares at RM1.40 each and settling RM270.2mil in claims owed by BTS to property buyers by issuing up to 193 million new shares, also RM1.40 apiece.
