Tuesday, 6 March 2012

Dijaya to acquire Danny Tan's properties for RM948m

KUALA LUMPUR (March 6): Real estate developer Dijaya Corp Bhd plans to acquire PROPERTIES [] owned by its single-largest shareholder Tan Sri Danny Tan for RM948.7 million.

The purchase will be funded with a cash portion of RM250 million and irredeemable convertible unsecured loan stocks, Dijaya said in a statement on Tuesday.

Dijaya also proposed to a rights issue to raise about RM250 million and debt funding of RM500 million in commercial papers and medium term notes.

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