KUALA LUMPUR: Datuk Seri Farouk Abdullah, who emerged as a substantial shareholder in Bio Osmo Bhd in April last year, is injecting his Impiana hotel business in Malaysia into the loss making company in a bid to turn it around.
The RM425.9mil reverse takeover deal will see Farouk’s stake in Bio Osmo rising above the 33% threshold that would require him to make a general offer to remaining shares in the company.
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