MOST had expected the high-stakes takeover of EON Capital Bhd (EON Cap) to be anything but smooth. But corporate watchers had not expected the battle to be as heart-stopping with all the elements of a classic fight – billions at stake, a see-saw tussle, feverish lobbying and potential legal warfare.
On one side of the table, sit three willing sellers – Rin Kin Mei, founder-shareholder of EON Cap; major shareholder Tan Sri Tiong Hiew King; and Khazanah Nasional Bhd – and on the other side is private equity firm Primus Pacific Partners Ltd.