KUALA LUMPUR, Jan 26 (Bernama) — KLCC Property Holdings Berhad (KLCCP) is pleased to announce that it has entered into a share purchase agreement with the existing shareholders of Suria KLCC Sdn Bhd (Suria KLCC) – Ocmador (Malaysia) City Retail Centre Sdn Bhd, Port Moresby Investments Limited and Bold Peak Sdn Bhd, to acquire the remaining 40% equity interest for a purchase consideration of RM1,950 million (Proposed Acquisition).
Upon completion of the Proposed Acquisition, Suria KLCC, a 60%-owned subsidiary of KLCCP will become a wholly owned subsidiary of KLCCP. KLCCP and KLCC Real Estate Investment Trust (KLCC REIT), collectively known as KLCCP Stapled Group is Malaysia’s largest self-managed stapled security that invests, develops, owns, and manages a stable of iconic and quality assets and constitutes 31% of Bursa Malaysia’s Real Estate Investment Trust (REIT) Index.
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