December 12, 2012 / 12:26 AM / in 5 years

Malaysian tycoon to take Guoco Group private for $1.1 bln

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

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