PETALING JAYA: G Team Resources & Holding Sdn Bhd’s offer to take over the scandal-ridden Maika Holdings Bhd turned unconditional yesterday, after having received acceptances of 67.64% or 84.55 million shares. Subsequently, G Team and parties acting in concert (PACs) with it also extended an unconditional takeover offer for Maika’s 74.16% subsidiary, Oriental Capital Assurance Bhd (OCA), at RM1.61 cash per share.
The takeover offer for 24% or 24 million OCA shares not already held by Maika is in line with the obligation under the takeover code involving downstream entity. According to the takeover notice, the PACs for the purpose of the offer is GRYSS Holdings Sdn Bhd – a private vehicle of Westports Malaysia Sdn Bhd executive chairman Tan Sri G. Gnanalingam and family.
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