PETALING JAYA: Genting Bhd
’s bid to take Genting Malaysia Bhd (GenM) private has turned unconditional after it crossed the 50% shareholding threshold.
In a filing with Bursa Malaysia, Genting said it now owned 50.105% of GenM’s total issued shares.
Last month, Genting announced its intention to take GenM private at RM2.35 per share, valuing the latter at about RM6.74bil.
In its rationale for the takeover offer, Genting said that by gaining statutory control of GenM and becoming its majority shareholder, this will boost the financial profile of the latter.
It said this in the context of GenM’s bid for the New York casino licence, which if successful, will require significant capital investment.
The offer remains open for acceptances until 5pm on Nov 24, 2025, which marks the first closing date.
