KUALA LUMPUR: Berjaya Corp Bhd has divested its equity interest in three separate businesses to reap a combined RM263mil in proceeds, as the diversified group press ahead with plans to streamline its operations.
The biggest deal announced on Thursday was the disposal of a 30% stake in Razer Fintech Holdings Pte Ltd for US$53.568mil (RM223.89mil).
The sale reduced BCorp's stake in Razer down to 19%.
The group also entered into separate deals to dispose its 70% stake in Berjaya China Motor Sdn Bhd for RM13.28mil, as well as its printing business Graphic Press Group Sdn Bhd for RM26.1mil.
“The divestments of BCorp’s interests in Razer Fintech and Berjaya China Motor, as well as the closure of Graphic Press, is part of the Group’s transformation strategy to streamline our operations, divest non-core assets, and focus on higher growth opportunities across our core businesses in order to enhance shareholder value," CEO Jalil Rasheed said in a statement today.
"And in the case of Razer, it was especially appealing as we had a significant return on our investment in a relatively short time,” he added.