KUALA LUMPUR: The Philippines' San Miguel Corp (SMC) has proposed to acquire ExxonMobil International Holdings Inc's 65 per cent stake in Esso Malaysia Bhd (EMB) for US$206.02 million (RM618 million) or RM3.50 per share, a 29.3 per cent discount to EMB's closing price of RM4.95 yesterday.Last month, Business Times reported that ExxonMobil was considering flogging off its 560 Esso and Mobil service stations across the country.
The SMC's sale and purchase agreement (SPA) with ExxonMobil was entered yesterday, said Maybank Investment Bank Bhd.
Upon completion of the proposed acquisition of the 175.5 million shares, SMC will be required to extend a mandatory takeover offer, with the same terms to the remaining shareholders of EMB.
SMC also yesterday entered into two separate SPAs with Mobil International Petroleum Corp to acquire the latter's 35.539 million shares in ExxonMobil Malaysia and ExxonMobil International to buy its 15.45 million shares in ExxonMobil Borneo Sdn Bhd.
The two purchases are for US$403.98 million (RM1.2 billion), making the total cash consideration for the whole acquisition US$610 million.
2 comments:
cuba2 le siasat ada 'berkait' dgn mirzan mahadhir ke? ?
Hidup Mirzan mahathir....
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