Johan to sell Diners Club for RM314mil

In its filing with the stock exchange, the company announced that its wholly owned subsidiary Johan Investment Private Ltd had entered into a conditional share purchase agreement with Ezy Net Pte Ltd, Candypay Holdings Pte Ltd and Genesis Business Holdings Pte Ltd for the disposal of 4.64 million ordinary shares in DCS, representing the entire equity interest in the company.

PETALING JAYA: Johan Holdings Bhd has proposed to divest its entire stake in loss-making Diners Club (Singapore) Private Ltd (DCS) for a disposal consideration of S$103.59mil (RM313.98mil).

Johan said it was expected to realise a gain of S$62.12mil from the proposed disposal of its entire interest in the company that provides charge card and credit card services.