Friday, April 22, 2011

#Flash* Khazanah sells 32.21% stake in Pos to DRB-Hicom for RM622.7m

KUALA LUMPUR: Khazanah Nasional Bhd has divested its 32.21% stake in POS MALAYSIA BHD [] to DRB-HICOM BHD [] at RM3.60 per share or RM622.79 million.

Khazanah said on Friday, April 22 this decision was made following a rigorous selection process initiated by Khazanah to ensure that the new shareholder will be able to bring Pos Malaysia to the next level of growth.

"The divestment is made via a conditional offer with a price consideration of RM3.60 per share or RM622.79 million. The offer price of RM3.60 per share is subject to the modification of the Special Rights Redeemable Preference Share in Pos Malaysia held by Minister of Finance (Incorporated).

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