Berjaya Philippines buys UK luxury cars dealer HR Owen

Visual from the company's Facebook page.

Listed holding firm Berjaya Philippines Inc will soon increase its total stake in UK-based luxury cars dealer HR Owen Plc for over 98 per cent as a result of signing a sale shares deal over the weekend.

The deal was made for investment purposes, and in order for Berjaya Philippines to own almost all the shares of HR Owen.

Berjaya Philippines, which currently owns 72.07 per cent of HR Owen, has bought from the car retailer an additional 26.31 per cent stake or more than 66.5 million shares priced at £2.25 apiece, for a total of $188.6 million (£149.8 million).

Also Read: Berjaya Philippines buys stake in Malaysia’s BAssets for $1.5m

The holding company has so far paid 10 per cent in cash and will complete the remaining 90 per cent in the next six months.

Registered in England and Wales, HR Owen operates a number of vehicle franchises in the prestige and specialist car market such as Aston Martin, Audi, Bentley, BMW, Bugatti, Ferrari, Lamborghini, Lotus, Maserati, Mini, Pagani and Rolls-Royce. It provides both sales and aftersales services, predominantly in the London area.

Berjaya Philippines is 74.2 per cent owned by Berjaya Lottery Management (HK) Limited of Hong Kong, and 14 per cent by Berjaya Sports Toto (Cayman). The firm is into gaming, mobile phone prepaid loading distributions, hotel, automobiles, restaurant, and also foundations.

Also Read: Malaysia: Berjaya Assets to own 50% in lottery firm Megaquest for $27.2m

Berjaya Philippines’ ultimate parent is Berjaya Sports Toto Berhad of Malaysia, a publicly listed company in the Kuala Lumpur stock exchange.

Only two weeks ago, the Philippine holding firm invested over $1.5 million in acquiring a 0.62 per cent stake in Berjaya Assets Berhad (BAssets), owner of Berjaya Times Square, the largest shopping centre and commercial development in Malaysia.

Berjaya Philippines’ last trading price decreased 5.47 per cent or P0.290 to close at P5.01 per share.

Also Read:

Malaysia: Berjaya Corp sells 22% in BAuto to SPV for $136.6m

Malaysia’s Berjaya Corp wins $210.6m contract to operate online lottery business in Vietnam

Germany’s Carmudi to use majority of $25m fund in PH

PH startup AutoDeal drives into property, job verticals

Philippines: Pryce Corp sells $2.4m shares to investor

Philippines: Emperador buys Pernod Ricard’s brandy, wine biz

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.