By Juliet Shwe Gaung
This will be JDE’s second deal in Asia this year, after its $1.05-billion acquisition of Singapore-listed Super Group.
The deal, which has been concluded, is worth as much as 3.5 billion rand ($256 million).
Sime Darby Property Berhad fell to 1.19 ringgit in the afternoon, down over 20 percent from its reference price of 1.50 ringgit.
Magic is deliberating with other stakeholders – Corporates and Venture Capital firms – on packaging some of its programmes together with financing, equivalent to seed funding, or an entry level capital amount to start with, Magic CEO Ashran Dato’ Ghazi told this portal. It will also look at weather there is real need for a fund.
HNA built up its holding in Deutsche Bank to just under 10% as of May, making it the lender’s biggest single shareholder.
The move is aimed at further securing Malaysia against money-laundering and terrorism financing.
The deal is expected to be completed by February 2018.
PNB is spearheading the Sime Darby demerger into three separate businesses by the end of this month to unlock value.
The current fund raise follows a $17.4m capital raising over a year ago by iCar Asia
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