PETALING JAYA: Wijaya Baru Global Bhd has confirmed that negotiations are taking place between its majority shareholder Datuk Seri Tiong King Sing and interested parties for his stake in the company.
Former army Major (R) Anuar Adam, who heads the Maxcorp Group of companies, is looking to buy out Tiong in a deal that values the Sarawakian tycoon’s interest in Wijaya at about RM1.10 per share. The Ambank Group was said to be advising the deal.
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