Sime Darby to acquire 61.2% stake in UMW in RM3.57bil deal

KUALA LUMPUR: Sime Darby Bhd has entered into a conditional share purchase agreement to acquire Permodalan Nasional Bhd's (PNB) entire 61.2% stake in UMW Holdings Bhd for RM3.57bil cash or RM5 per share.

Once the agreement becomes unconditional, the group said it will undertake a general offer for the remaining 38.8% stake it does not hold with the aim of delisting UMW from Bursa Malaysia.