KUALA LUMPUR: Genting Malaysia Bhd (GenM) will acquire less debt of the casino business in the United Kingdom from Genting Singapore Plc than initially expected due to a downward revision in the net debt of the companies to be acquired by ''11.5 million (RM55.5 million) to ''74.4 million as at June 20, 2010.
The companies to be acquired ' consisting of Nedby Ltd, Palomino Star Ltd, Palomino World Ltd and Genting International Enterprises (Singapore) Ltd had their net debt position reduced by ''11.5 million from ''85.9 million, according to a statement to Bursa Malaysia.
'In accordance with the terms of the sales and purchase agreement, the purchase consideration will be revised by the net debt difference from ''340 million to ''351.5 million to reflect the reduction in net debt,' it said.
GenM had also said in the statement that it had on Sept 20 obtained the relevant approvals from the British Gambling Commission for the proposed acquisition.
GenM added 41 sen to close at RM3.64 with 40.9 million shares changing hands.
The companies to be acquired ' consisting of Nedby Ltd, Palomino Star Ltd, Palomino World Ltd and Genting International Enterprises (Singapore) Ltd had their net debt position reduced by ''11.5 million from ''85.9 million, according to a statement to Bursa Malaysia.
'In accordance with the terms of the sales and purchase agreement, the purchase consideration will be revised by the net debt difference from ''340 million to ''351.5 million to reflect the reduction in net debt,' it said.
GenM had also said in the statement that it had on Sept 20 obtained the relevant approvals from the British Gambling Commission for the proposed acquisition.
GenM added 41 sen to close at RM3.64 with 40.9 million shares changing hands.
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