Berjaya Land buys 0.61% equity interest in 7-Eleven for RM12.1mil

KUALA LUMPUR: Berjaya Land Bhd (BLand) has acquired 6.73 million ordinary shares representing about 0.61% equity interest in 7-Eleven Malaysia Holdings Bhd (SEM) for RM12.1mil cash, or at an average purchase price of about RM1.80 per SEM Share.

In a filing with Bursa Malaysia, BLand said its 100%-owned subsidiary, Berjaya Vacation Club Bhd had on July 27, 2022 and March 15, 2023, acquired SEM shares from a non-related party and True Ascend Sdn Bhd (TASB), a company controlled by Tan Sri Vincent Tan Chee Yioun respectively, via direct business transactions.

“Following the acquisitions, BLand and its subsidiaries now hold a total of about 68.64 million SEM shares representing about 6.18% equity interest in SEM,” BLand said.

It added that the cash consideration of the acquisition was arrived at after taking into consideration the prevailing market prices of the SEM shares at the time of acquisitions.

The acquisitions were funded from internal funds of the BLand group.