Malaysian tycoon to take Guoco Group private for $1.1 bln

HONG KONG Tue Dec 11, 2012 7:25pm EST

Related Topics

HONG KONG Dec 12 (Reuters) - A major shareholder in Guoco Group, a Hong Kong investment company controlled by Malaysian tycoon Quek Leng Chan, has made an offer to take the company private for HK$8.25 billion ($1.1 billion), Guoco Group said in a statement on Wednesday.

The offer of HK$88.00 per share is made by GouLine Overseas Ltd, a unit of Hong Leong Co (Malaysia), the statement said. The group is offering a 24.8 percent premium over Guoco's last traded price. Guoco shares have been suspended since Dec. 4 pending an announcement.

($1 = 7.7500 Hong Kong dollars) (Reporting by Denny Thomas and Donny Kwok; Editing by Richard Pullin)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.