KUALA LUMPUR (Jan 25): CAN-ONE BHD [] has completed the acquisition of the 32.9% stake in KIAN JOO CAN FACTORY BHD [] (KJCF) for RM241.11 million cash consideration.
Can-One said on Wednesday the acquisition of the 146.13 million KJCF shares from Kian Joo Holdings Sdn Bhd was deemed completed as all the conditions in the conditional shares sale agreement dated March 23, 2009 had been fulfilled.
Analysts are expecting Can-One to make a general offer after securing the 32.9% block of KJCF.
They added Can-One would be in a better position to increase the market share once its take control of KJCF.
To recap, Can-One announced on Jan 6 that it won the legal tussle to acquire the block of KJCF shares after a Federal Court ruled in its favour.
Can-One said on Wednesday the acquisition of the 146.13 million KJCF shares from Kian Joo Holdings Sdn Bhd was deemed completed as all the conditions in the conditional shares sale agreement dated March 23, 2009 had been fulfilled.
Analysts are expecting Can-One to make a general offer after securing the 32.9% block of KJCF.
They added Can-One would be in a better position to increase the market share once its take control of KJCF.
To recap, Can-One announced on Jan 6 that it won the legal tussle to acquire the block of KJCF shares after a Federal Court ruled in its favour.
