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YTL Cement Ups Lafarge Malaysia Stake To 76.98%

Infra News - Published on Tue, 18 Jun 2019

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YTL Cement Bhd has increased its shareholding in Lafarge Malaysia Bhd to 76.98% following the conclusion of a mandatory general offer. In a filing with Bursa Malaysia, Maybank Investment Bank said the MGO, at MYR 3.75 a share, was concluded with YTL Cement acquiring an additional 220.72 million shares or 25.98% of Lafarge. YTL Cement a 98% subsidiary of YTL Corp Bhd had previously said it would maintain the listing status of Lafarge Malaysia. Bursa Malaysia’s listing requirements mandate a minimum 25% public shareholding spread.

YTL Cement concluded its purchase of 51% of Lafarge Malaysia from Associated International Cement Ltd. It paid MYR 1.63 billion or MYR 3.75 a share for the 433.34 million shares, following which it extended an MGO for the remaining shares not owned by it.

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Posted By : Mohan Sharma on Tue, 18 Jun 2019
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