Berjaya Assets emerges as substantial shareholder in 7-Eleven

KUALA LUMPUR: Berjaya Assets Bhd has emerged as a substantial shareholder in 7-Eleven Malaysia Holdings Bhd following a recent spate of purchases in the open market and direct deals.

The company, in a filing with Bursa Malaysia today, said it had spent RM17.83mil acquiring an additional 11.75 million 7-Eleven shares between Jan 23 and May 2.

The transactions increased the company’s stake in 7-Eleven to 5.24%.

During that period, Berjaya Assets bought 3.23 million 7-Eleven shares in the open market for a total cash of about RM4.9mil, or at an average price of RM1.52 a share.

This is on top of the 8.52 million 7-Eleven shares it acquired via direct business transactions for a total cash of about RM12.9mil, or RM1.52 per share.

Shares in 7-Eleven were last traded on Thursday at RM1.52.

“The acquisitions enabled the Berjaya Assets to increase its stake in 7-Eleven,” Berjaya Assets said.

The Sultan of Johor Sultan Ibrahim Sultan Iskandar and Tan Sri Vincent Tan Chee Yioun are substantial shareholders of Berjaya Assets and 7-Eleven.