SP Setia acquires entire stake in unit

  • Business
  • Thursday, 22 Dec 2016

PETALING JAYA: SP Setia Bhd has acquired the entire equity interest in Setia Recreation Sdn Bhd from its indirect wholly-owned subsidiary Lagavest Sdn Bhd for RM2.

The property development company said in a filing with Bursa Malaysia that the exercise was an internal reorganisation.

“The acquisition of Setia Recreation by SP Setia from Lagavest Sdn Bhd is part of SP Setia’s internal reorganisation exercise to streamline the companies within SP Setia group of companies for a more optimum corporate structure,” it said.

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