Published: Wednesday March 6, 2013 MYT 2:21:00 PM
KDEB agrees to possible higher price for KHSB shares
KDEB had made the takeover offer for Kumpulan Perangsang Selangor Bhd's (KPSB) 56.57% stake in KHSB, comprising of 254.56 million.
In the latest development, KPSB said on Wednesday that KDEB had accepted the conditions set out by KPSB.
The first condition was that the purchase consideration for the share would at a minimum 76 sen a share.
Another condition was that the purchase consideration "may be increased by up to 10% from the minimum offer price" at KPSB's request.
This would be to reflect the prevailing market value of the land banks and investment properties of KHSB following the valuations to be carried out by an independent valuer to be appointed jointly by KDEB and KPSB.