Malaysia’s JT International Gets US$247 million Takeover Offer

April 15, 2014 Leave a comment

Malaysia’s JT International Gets US$247 million Takeover Offer

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SHARON TANG FINANCE  MAR. 31, 2014, 2:38 PM

Japan Tobacco Inc., the major shareholder of JT International Bhd, has launched an RM808.4 million (US$247 million) takeover offer for the remaining shares.

JT International said in a filing to Bursa Malaysia today, Japan Tobacco, which already owns 60.37% of the firm, will buy the remaining 39.63% for RM7.80 per share.

Shares of JT International, which manufactures Winston and Salem brand cigarettes, last traded at RM6.50 apiece on Friday before the stock was suspended pending the announcement.

Japan Tobacco does not intend to maintain JT International’s listing on the local bourse

 

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