In a stock exchange filing yesterday, Tasek said it had received an unconditional voluntary takeover offer from HL Cement (Malaysia) (HLCSB) and Ridge Star (RSL) — the two subsidiaries which HLA uses to control Tasek — to acquire the remaining shares they do not own in the cement maker.
KUALA LUMPUR (May 29): Singapore-listed Hong Leong Asia (HLA), which controls about 80.8% of cement maker Tasek Corp via two wholly-owned subsidiaries, wants to take Tasek Corp private in a deal worth an estimated RM128.61 million, based on the offer price of RM5.50 for every ordinary as well as preference share.
This is the second takeover exercise involving a cement company in the last month, after YTL Corp’s unit, YTL Cement, acquired stakes in Lafarge Malaysia for RM1.63 billion or RM3.75 per share.
