Lagenda to dispose of 49% stake in poultry-related business

  • Corporate News
  • Monday, 28 Sep 2020

KUALA LUMPUR: Lagenda Properties Bhd has exercised the put option as granted under the share sale agreement to dispose of 49 per cent equity interest in six poultry-related companies at an aggregate option price of RM9.8 million.

In a filing with Bursa Malaysia today, Lagenda said it is disposing of all the remaining stake in Harumi Brands Sdn Bhd, DBE Breeding Sdn Bhd, DBE Hatchery Sdn Bhd, DBE Marketing Sdn Bhd, DBE Food Processing Industries Sdn Bhd, and DBE Gurney Chicken Sdn Bhd.

It also said Datuk Ding Seng Huat would acquire all the remaining 49 per cent equity interest held by Lagenda in the six companies.

"The rationale of exercising the put option is to further unlock the value and monetise its investment in the six companies and to enable the company to focus its resources solely in its property development business,” it added. - Bernama

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