Nineteen months after its listing on the Hong Kong stock exchange, Malaysia-based Nirvana Asia Ltd received an offer from an established private equity (PE) firm, CVC Capital Partners, to buy out the former at a value of HK$3 a share, which was the same price of the company when it listed there.
On July 8, CVC made a HK$8.1bil (RM4.16bil) buyout offer, which will be paid in cash and shares.
According to the offer, CVC is offering cash and shares to founder Rightitan Sdn Bhd, which owns 42.7% of Nirvana, and Orchid Asia Group Management, which holds a 21.6% stake. For the other shareholder, the offer will be in cash of HK$3 a share.
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On July 8, CVC made a HK$8.1bil (RM4.16bil) buyout offer, which will be paid in cash and shares.
According to the offer, CVC is offering cash and shares to founder Rightitan Sdn Bhd, which owns 42.7% of Nirvana, and Orchid Asia Group Management, which holds a 21.6% stake. For the other shareholder, the offer will be in cash of HK$3 a share.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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