KUALA LUMPUR (March 30): ExxonMobil International Holdings Inc’s disposal of a 65% stake in ESSO MALAYSIA BHD [] to San Miguel Corporation was completed on Friday.
Stock market data showed that the block of shares, comprising of 175.5 million shares, was crossed at an average price of RM3.41.
This was 14.9 sen below Thursday’s closing price of RM3.56.
According to latest corporate development, the sales and purchase agreement become unconditional on March 16 upon completion of the acquisition.
San Miguel is obliged to extend a mandatory take-over offer for the remaining 35% or 94.50 million shares.
Stock market data showed that the block of shares, comprising of 175.5 million shares, was crossed at an average price of RM3.41.
This was 14.9 sen below Thursday’s closing price of RM3.56.
According to latest corporate development, the sales and purchase agreement become unconditional on March 16 upon completion of the acquisition.
San Miguel is obliged to extend a mandatory take-over offer for the remaining 35% or 94.50 million shares.
