Translate
12 December 2017
Netherlands Based Company Launches Takeover of Old Town White Coffee Group = OldTown Bhd offering RM1.47 Billion
Dutch company launches takeover of OldTown for RM1.47b
KUALA LUMPUR: Dutch company Jacobs Douwe Egberts Holdings Asia NL B.V. has launched a takeover of OldTown Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png for RM1.47bil or RM3.18 a share.
CIMB Investment Bank, who is acting on behalf of JDE, said the takeover offer was 10.4% higher than the last traded price of RM2.88 on Dec 7.
“The offeror (JED) intends to make the offer with a view to delisting and privatising OldTown.
“Based on the outstanding 463.239 million shares as at Dec 11 and the offer price of RM3.18 per OldTown share, the total outlay for the offer will be RM1.473bil,” it said.
In a separate statement, Oldtown said the major shareholders owning 51.4% of the shares have given their undertaking to accept the offer.
JDE is a privately owned company incorporated in the Netherlands, which has a global coffee and tea business. Acorn Holdings B.V. has an indirect interest of approximately 73.07% in JDE.
CIMB Investment Bank said to provide assurance of the funding required, US$370mil (or approximately RM1.512bil) has been deposited by JDE into an escrow account with a bank in Singapore in accordance with the terms of an escrow arrangement.
CIMB Investment Bank said the escrow fund cannot be released from the account other than for the permitted purposes of paying for the takeover of OldTown.
Founded in 1999, OldTown’s principal activities of OldTown Group are of cafĂ© chain operations and the manufacturing, marketing and sales of coffee and other beverages, including instant coffee mix, instant milk tea mix, instant chocolate mix and roasted coffee powder.
Read more at https://www.thestar.com.my/business/business-news/2017/12/11/dutch-company-launches-takeover-of-oldtown-for-rm1pt47b/#fjwW4xgsAeCW6L7r.99
Popular Posts - Last 7 days
-
Dua buah helikopter milik Angkatan Tentera Malaysia (ATM) dilaporkan terhempas ketika menjalani raptai di Kem Tentera Laut Diraja Malaysi...
-
Tiga anggota TLDM wanita dan dua Pegawai Memerintah Skuadron antara 10 yang terkorban dalam nahas dua helikopter bertembung dan terhempas di...
-
Dua helikopter TLDM bertembung semasa Latihan Lintas Hormat Sambutan Hari Ulang Tahun TLDM Ke-90. Pesawat HOM (M503-3) yang membawa tujuh or...
-
PM Anwar tubuh Jawatankuasa Penasihat Dasar Kepada Perdana Menteri - PMO Bernama 22/04/2024 PM Anwar tubuh Jawatankuasa Penasihat Dasar Ke...
-
TLDM tragedy: Nation mourns worst helicopter crash Bernama 24/04/2024 Two helicopters crashed following a mid-air collision over the Royal...
-
TOP 100 AIRPORTS https://www.worldairportawards.com/worlds-top-100-airports-2024/
-
KL20 Summit 2024 to attract high-quality investments - PM Bernama 22/04/2024 PM Datuk Seri Anwar Ibrahim said the summit marks a comprehens...
-
70 PCT OF PROPERTY DEVELOPMENT IN FOREST CITY SOLD - EXCO 20/04/2024 KULAI, April 20 (Bernama) -- Seventy per cent of the property develop...
Popular Posts - Last 30 days
-
Saudi says application for 1444 H umrah visa opens from today Bernama Julai 14, 2022 The Ministry of Haj and Umrah of Saudi Arabia has ann...
-
Kedah MB: ECK no longer part of Kulim airport project Bernama Julai 13, 2022 Muhammad Sanusi announced that the ECK Group of Companies (EC...
-
King presents appointment letters to four new envoys Bernama Julai 12, 2022 His Majesty presenting the letter of appointment to M'sian...
-
Following is BEST FBKL's selection of The Top Ramadan 2024 Buka Puasa Buffet's in Kuala Lumpur and the Klang Valley. We hope that y...
-
Wan Saiful confirms he is no longer PTPTN chairman Bernama Julai 12, 2022 Bersatu Information chief Datuk Wan Saiful Wan Jan today confirm...
-
Naz Empire's defamation lawsuit against Awal Ashaari to go to trial as mediation fails Bernama Julai 12, 2022 The defamation lawsuit f...
-
Paris court grants Malaysia's application to suspend claims by purported heirs of Sultan Jamalul Kiram II Bernama Julai 13, 2022 Dr Wa...
-
‘Alas pintu’ dengan gambar Kaabah sebenarnya sejadah mini - AEON BiG April 13, 2024 Susulan penularan gambar yang mendakwa penjualan ‘alas ...
-
Screenshot of a video shared by the public of the incident at the Kuala Lumpur International Airport (KLIA) Arrival Hall 1 on Sunday. SEPANG...
Blog Archive
-
►
2023
(3771)
- December (311)
- November (322)
- October (286)
- September (288)
- August (365)
- July (349)
- June (372)
- May (316)
- April (279)
- March (301)
- February (245)
- January (337)
-
►
2022
(4309)
- December (352)
- November (422)
- October (288)
- September (281)
- August (347)
- July (303)
- June (335)
- May (406)
- April (341)
- March (371)
- February (390)
- January (473)
-
►
2021
(9030)
- December (636)
- November (647)
- October (809)
- September (797)
- August (880)
- July (894)
- June (747)
- May (780)
- April (580)
- March (629)
- February (643)
- January (988)
-
►
2020
(6800)
- December (819)
- November (698)
- October (832)
- September (729)
- August (548)
- July (558)
- June (615)
- May (394)
- April (368)
- March (453)
- February (439)
- January (347)
-
►
2019
(4089)
- December (411)
- November (425)
- October (375)
- September (279)
- August (397)
- July (353)
- June (326)
- May (315)
- April (266)
- March (318)
- February (293)
- January (331)
-
►
2018
(4100)
- December (305)
- November (304)
- October (357)
- September (352)
- August (420)
- July (442)
- June (366)
- May (412)
- April (343)
- March (275)
- February (233)
- January (291)
-
▼
2017
(3888)
- December (268)
- November (293)
- October (352)
- September (309)
- August (356)
- July (300)
- June (319)
- May (354)
- April (316)
- March (335)
- February (306)
- January (380)
-
►
2016
(4563)
- December (331)
- November (328)
- October (378)
- September (415)
- August (404)
- July (380)
- June (310)
- May (370)
- April (430)
- March (484)
- February (355)
- January (378)
-
►
2015
(4588)
- December (402)
- November (392)
- October (393)
- September (375)
- August (450)
- July (392)
- June (456)
- May (407)
- April (408)
- March (374)
- February (262)
- January (277)