PETALING JAYA: Datuk Cheah See Yeong of Golden Scoop Sdn Bhd, the master franchisee of Baskin-Robbins in Malaysia and Singapore, has taken control of Apollo Food Holdings Bhd
after purchasing a 51.31% stake in the confectionary producer.
He acquired the stake from Apollo Food’s controlling shareholder, Keynote Capital Sdn Bhd, via Scoop Capital Sdn Bhd for RM238.1mil or RM5.80 per share.
He and spouse Datin Soon Gock Lan have tabled a mandatory general offer for the remaining 48.69% stake in Apollo at RM5.80 per share.
In a filing with Bursa Malaysia, Apollo Food noted Scoop Capital intends to maintain the listing status of the company on the Main Market of Bursa Malaysia.
Scoop Capital is 90%-owned by Cheah and the remaining 10% by Soon. The offer price for the remaining shares is at a 40 sen premium to Apollo Food’s last done price of RM5.40 on Friday. The trading of Apollo Food securities was suspended yesterday and will resume trading today.
