KUALA LUMPUR: Sime Darby Bhd is expected to receive RM63mil to RM76mil in special dividend as CP Group buys Tesco Malaysia.
Maybank IB Research in its note said that the dividend is via its 30% stake in Tesco Malaysia.
“We maintain our ‘buy’ call on Sime Darby with the target price of RM2.58, ” it said in the note.
At lunch break, Sime Darby Bhd went up three sen to RM1.90 with 2.85 million shares transacted.
Yesterday, Thailand’s Charoen Pokphand (CP) Group announced that its board had approved a deal for its subsidiaries to buy up 86.9% of the Thai business of British retailer Tesco and 100% of the retailer’s Malaysian business.
The deal was valued at US$10.6bil. —Bernama
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