<div>This article first appeared in <em>The Edge Financial Daily,</em> on December 14, 2016.<br />
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<div class=newsTextDataWrapInner><p>KUALA LUMPUR: Berjaya Sports Toto Bhd’s (BJToto) subsidiary, Berjaya Philippines Inc, plans to increase its stake in luxury vehicle manufacturer Bentley Motors Ltd’s HR Owen plc to 98.38% from 72.07% .</p></div>

<div class=newsTextDataWrapInner><p>The Philippine Stock Exchange-listed company will pay £14.8 million (RM83.64 million) for the 26.31% stake, said BJToto in a filing with Bursa Malaysia.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Berjaya Philippines, which is 88.26% owned by BJToto, will pay 10% of the price upon execution of the share sale agreement, with the remaining 90% in six months.</p></div>

<div class=newsTextDataWrapInner><p>Registered in England and Wales, HR Owen operates a number of franchises in the specialist car segment, such as Aston Martin, Audi, Bentley, BMW, Bugatti, Ferrari, Lamborghini, Lotus, Maserati, Mini, Pagani and Rolls-Royce.</p></div>

<div class=newsTextDataWrapInner><p>Berjaya Philippines has gradually been raising its stake in the company over the years since its first share acquisition in October 2013, when it bought a 29.81% stake for £23.4 million.</p></div>

<div class=newsTextDataWrapInner><p>The latest purchase is expected to be completed by July 8, 2017.</p></div>


This article first appeared in The Edge Financial Daily, on December 14, 2016.

 

KUALA LUMPUR: Berjaya Sports Toto Bhd’s (BJToto) subsidiary, Berjaya Philippines Inc, plans to increase its stake in luxury vehicle manufacturer Bentley Motors Ltd’s HR Owen...

Berjaya Philippines to up stake in luxury car dealer HR Owen

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<p>(Dec 22):&nbsp;Singapore Post Ltd (SingPost)&nbsp;fired its chief executive officer and several other senior leaders following allegations related to its international e-commerce logistics parcels business.&nbsp;</p>


<p>(Dec 22):&nbsp;Emerging markets (EM)-focused investors have had little to celebrate over the past year. Or for that matter, over the past decade. Now the prospect of Donald Trump’s tariffs and trade wars has some considering abandoning them altogether.</p>


<p>SEREMBAN (Dec 22): Barisan Nasional (BN) chairman and Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi has assured that Umno and Barisan Nasional (BN), as component parties, will be fully committed to the Unity Government until the next election.</p>


<p>BENGALURU (Dec 22): Qatar will stop shipping gas to the EU if member states strictly enforce a new law cracking down on forced labour and environmental damage, Energy Minister Saad al-Kaabi told the <em>Financial Times</em>&nbsp;(<em>FT</em>) in an interview published on Sunday.</p>


<p>BENGALURU (Dec 22): Japan's competition watchdog is expected to find Google guilty of violating the country's antitrust law, <em>Nikkei Asia </em>reported on Sunday, citing sources.</p>
