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Article: AMDB plans to buy 4 property firms from parent
- Article from:
- New Straits Times
- Article date:
- August 26, 2008
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New Straits Times
08-26-2008
AMDB plans to buy 4 property firms from parent
Edition: Main/Lifestyle
Section: Business Times
Type: Company
AMDB Bhd plans to buy four property companies from parent AmcorpGroup Bhd as part of a reorganisation strategy.
Under the deal, AMDB will own a 100 per cent stake in Amcorp Prima Realty Sdn Bhd (APRB), a 60 per cent stake in HDC-Amcorp JV Sdn Bhd, a 100 per cent interest in Regal Genius Sdn Bhd and a 100 per cent stake in Distrepark Sdn Bhd.
AMDB will pay RM159.72 million in cash and new shares for its interest in APRB, Regal Genius and Distrepark to settle inter- company loans owed by the three companies to AmcorpGroup.
AMDB will also pay RM20.99 million ...