KUALA LUMPUR: Mulpha International Bhd
(MIB) said its indirect wholly owned subsidiary, View Link Global Ltd, has entered into an agreement to dispose of its entire 33% equity interest in New Pegasus Holdings Ltd for approximately RM190.3mil (GBP33.8mil).
In a filing with Bursa Malaysia, MIB said View Link, together with the other shareholders of New Pegasus, signed a sale and purchase agreement with MGS Acquisition Ltd on Oct 24, 2025, for the joint disposal of all shares in New Pegasus valued at GBP102.3mil (RM575.9mil).
New Pegasus, incorporated in the British Virgin Islands, is an investment holding company that owns the London Marriott Hotel at Grosvenor Square, managed by its subsidiary.
Upon completion, New Pegasus will cease to be an associate company of View Link.
“The proposed disposal of View Link’s investment in New Pegasus will strengthen the MIB Group’s cash flow position and is in line with the group strategy and investment philosophy,” MIB said.
Based on the View Link consideration, MIB said the proceeds from the proposed disposal will be used for the group’s working capital and future investments within 24 months of completion.
MIB said the proposed disposal is expected to result in a net gain of approximately RM105.3mil, after deducting incidental costs relating to the proposed disposal.
