Bursa Malaysia Stock Watch
HLB a step closer to EON takeover
kltrader
Publish date: Tue, 28 Sep 2010, 05:12 PM
kltrader
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HONG Leong Bank Bhd, Malaysia's sixth-biggest bank by market value, is a step closer to taking over EON Capital Bhd after yesterday's shareholder vote, Managing Director Yvonne Chia told reporters in Kuala Lumpur today.
EON's shareholders approved a RM5.06 billion takeover offer by billionaire Quek Leng Chan's Hong Leong, even though EON's biggest investor, Primus Pacific Partners Ltd, is trying to block the sale in court.
'It marks a very important step for Hong Leong,' Chia said. A successful takeover is a 'springboard for Hong Leong to achieve greater economies of scale.' - Bloomberg
EON's shareholders approved a RM5.06 billion takeover offer by billionaire Quek Leng Chan's Hong Leong, even though EON's biggest investor, Primus Pacific Partners Ltd, is trying to block the sale in court.
'It marks a very important step for Hong Leong,' Chia said. A successful takeover is a 'springboard for Hong Leong to achieve greater economies of scale.' - Bloomberg
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