Merger talks surfaced last year but were met with hurdles that saw any potential deal stall. One of the contentious points was that Tan Sri Liew Kee Sin, the controlling shareholder of Eco World Development, would take control of the enlarged group. That would not be the case as Khazanah Nasional would retain the largest block of shares in the enlarged group at 43% with Liew’s stake expected to drop to just over 8%.
PETALING JAYA: UEM Sunrise Bhd
and Eco World Development Group Bhd will be engaged in merger talks to create the largest property company in the country that will be controlled by Khazanah Nasional Bhd.
The exercise, if it meets the approval of shareholders, will be conducted via a share swap which would see Khazanah Nasional control the enlarged group with a stake of 43%.
