KUALA LUMPUR: Mercedes Benz vehicle dealer Cycle & Carriage Bintang Bhd (CCB)’s proposed privatisation deal has fallen through after the share capital reduction (SCR) and repayment exercise at RM2.20 per share failed to get a majority vote.
According to the poll results of the extraordinary general meeting (EGM) posted on Bursa Malaysia, the special resolution was voted for by 46.22% in number and 57.94% in value to the votes attached to the disinterested CCB’s shares that were cast either in person or by proxy at the EGM.