Wednesday, December 14, 2011

#Update* Johor Corp, CVC Capital offer RM6.80 for QSR shares

KUALA LUMPUR: Johor Corporation and CVC Capital Partners Asia III Ltd have made an offer of RM6.80 for the shares in QSR BRANDS BHD [] and RM3.79 for the warrants.

At RM6.80, this is 80 sen above the closing price of RM6 on Tuesday while the offer price for the warrants was a premium of 77 sen from the closing price of RM3.02.

QSR announced to Bursa Malaysia on Wednesday that it had received a letter from Massive Equity Sdn Bhd (MESB) which sets out MESB's conditional offer to acquire the entire business and undertaking including all of the assets and liabilities of QSR

MESB shareholders are Johor Corporation's unit Triple Platform Sdn Bhd which owns 51% stake, and CVC Capital Partners' unit Melati Asia Holdings Ltd (49%).

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