Berjaya Philippines Inc is reported to have bought the remaining shares in HR Owen.
It will be acquiring an additional 26.31% stake in UK-based luxury cars dealer HR Owen Plc after signing a sale shares deal at the weekend.
Berjaya Philippines owns 72.07% of HR Owen and has bought the car retailer’s remaining 26.31% stake for £149.8 million at £2.25 per share for more than 66.5 million shares.
It has paid 10% in cash and will pay the remaining 90% in the next six months, reports DealStreetAsia.
Berjaya Philippines is 74.2% owned by Berjaya Lottery Management (HK) Limited of Hong Kong, and 14% by Berjaya Sports Toto (Cayman).
Berjaya Philippines’ ultimate parent is Berjaya Sports Toto Berhad of Malaysia, a publicly listed company in the Kuala Lumpur stock exchange.
Jeremy has been a journalist for 30 years, 20 of which have been in business-to-business automotive. He was a writer and news editor on AM-sister brand Fleet News for three years before setting up the AM website. For the last five years he has been Bauer B2B’s head of digital helping to manage the digital assets of AM, together with Fleet News, Commercial Fleet, Rail and Smart Transport.
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