Berjaya Assets sells 0.36% equity interest in 7-Eleven for RM7.58mil


KUALA LUMPUR: Berjaya Assets Bhd’s (BAssets) 100%-owned subsidiary, Berjaya Bright Sdn Bhd has disposed of 3.98 million shares, or 0.36% equity interest in 7-Eleven Malaysia Holdings Bhd (SEM) via a direct business transaction for RM7.58mil cash, or RM1.90 per SEM share.

“Following the disposal, BAssets and its subsidiaries now hold a total of about 4.26 million SEM shares representing about 0.38% equity interest in SEM,” BAssets said in a filing with Bursa Malaysia.

The group said the cash consideration for the disposal was arrived at after taking into consideration the prevailing market prices of the SEM shares at the time of disposal.

BAssets said the cash proceeds from the disposal would be utilised to repay borrowings of the group as well as to realise part of its investment in SEM.

“The carrying value of the SEM Shares pursuant to the disposal in the books of the BAssets Group as at Feb 28 is RM1.91 per SEM share, incurred since April 2017,” it said.

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Berjaya Assets , 7-Eleven , SEM , disposal


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