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Tuesday February 15, 2011
Plan to relist Magnum put on hold
KUALA LUMPUR: Multi-Purpose Holdings Bhd (MPHB), which has planned to relist its gaming unit, Magnum Holdings Bhd is putting the plan on hold.
“The board of directors of MPHB wishes to state that the preliminary plans to relist Magnum as announced on August 3 and 4, 2010 has been placed on hold for the time being,” MPHB said in a statement to Bursa Malaysia yesterday.
MPHB had last Wednesday signed a RM1.64bil deal to acquire the remaining 49% stake it did not already own in Magnum from several vendors. They included Asia 4D Holdings Ltd and Asia 4D Company Ltd, the wholly-owned units of CVC Capital Partner, which collectively own a 47% stake in Magnum, and certain members of the management of Magnum who collectively own the balance of 2%.
The total purchase consideration would be satisfied with an issuance of 360.5 million new MPHB shares valued at RM2.30 each and RM809.2mil cash.
MPHB : [Stock Watch] [News]
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