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Sime Darby sells E&O stake to Tham at lower price


E & O's most prominent property project is Seri Tanjung Pinang, spanning 980 acres of which 760 acres comprises reclaimed land.

E & O's most prominent property project is Seri Tanjung Pinang, spanning 980 acres of which 760 acres comprises reclaimed land.

PETALING JAYA: Sime Darby Bhd , which owns a 22.2% stake in property developer Eastern & Oriental Bhd (E&O), has agreed to sell a 10% stake at a lower price to E&O group managing director Datuk Seri Terry Tham than the price they agreed on in early June.

The conglomerate said in a stock exchange filing that SD Nominees and PSSB had agreed to revise the sale price of the stake to RM323.3mil or RM2.45 per share in E&O. The price for the convertible warrants remains at 30 sen per warrant. 

   

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