LTAT to privatise Boustead at 85.5 sen per share

KUALA LUMPUR: Lembaga Tabung Angkatan Tentera (LTAT) has issued a notice of conditional voluntary takeover offer to Boustead Holdings Bhd for the 40.58% stake or 822.51 million shares it does not already own in the company at 85.5 sen per share.

In a statement, the armed forces pension fund, which holds a 59.42% interest in Boustead, said the offer is conditional upon the Minister of Finance's approval upon Bank Negara's recommendation and approval under Section 87 of the Financial Services Act 2013 and Section 99 of the Islamic Financial Services Act 2013 to allow it to acquire up to 100% equity interest in Boustead.