Only one offer for Plus acquisition
Published: Jan 10, 2011 1:03 PM | Updated: Jan 10, 2011 4:54 PM
Only one offer - from UEM-EPF - has been made to acquire Plus Expressway Bhd at the company's 5pm deadline today.
Only one offer has been made to acquire Plus Expressway Bhd (Plus) as the company's deadline for offers expired at 5pm today.
In an announcement to Bursa Malaysia, Plus said that the sole offer came from the UEM Group and EPF who had remitted the RM50 million deposit in order to be considered.
"They have also submitted a letter from their financiers with regards to UEM and EPF's financial ability to undertake and complete their proposed acquisition of the PEB business on terms and conditions stated on the financiers' letter," read the statement.
On Dec 23 last year, Plus extended the deadline for offers in order for bidders to cough up a RM50 million refundable deposit.
Another potential bidder Jelas Ulung Sdn Bhd had previously offered RM26 billion to acquire Plus.
Little is known about this company, that was reportedly registered only in November last year and had a start up capital of RM2.
Led by Ibrahim Zain, the company made the offer to Plus just three days before Plus shareholders convened an EGM.
In an announcement to Bursa Malaysia, Plus said that the sole offer came from the UEM Group and EPF who had remitted the RM50 million deposit in order to be considered.
"They have also submitted a letter from their financiers with regards to UEM and EPF's financial ability to undertake and complete their proposed acquisition of the PEB business on terms and conditions stated on the financiers' letter," read the statement. On Dec 23 last year, Plus extended the deadline for offers in order for bidders to cough up a RM50 million refundable deposit.
Another potential bidder Jelas Ulung Sdn Bhd had previously offered RM26 billion to acquire Plus.
Little is known about this company, that was reportedly registered only in November last year and had a start up capital of RM2.
Led by Ibrahim Zain, the company made the offer to Plus just three days before Plus shareholders convened an EGM.
View Comments0