Berjaya Philippines closes US luxury car dealer takeover

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hrowenlotusListed Berjaya Philippines Inc., a unit of Malaysia-based Berjaya Corporation Berhad, on October 14 said that it has acquired nearly 70 per cent of US-based luxury car dealer H.R. Owen at the end of its take over bid on October 11.

“At the close of the period, the issuer acquired 17,465,685 shares or 69.74 per cent of H.R. Owen’s issued and outstanding capital,” Berjaya Philippines told the Philippine Stock Exchange.

Corporate secretary Jose A. Bernas said that Berjaya Philippine has no plans to further acquire shares in H.R. Owen.

“We’re happy with the 69.74 per cent. We have no immediate plans for H.R. Owen,” he added.

Corporate secretary Jose A. Bernas said that Berjaya Philippines hopes to bring the H.R. Owen business model to Asia.

H.R. Owen Group operates a number of vehicle franchises in the prestige and specialist car market which include Aston Martin, Audi, Bentley, BMW, Bugatti, Ferrari, Lamborghini, Lotus, Maserati, Mini, Pagani and Rolls-Royce for both sales and after sales, predominantly in the London area.

On July 30, Berjaya Philippines made an offer of 130 pence per H.R. Owen shareand had since extended its offer three times.

Controlled by Malaysian tycoon Vincent Tan, Berjaya Philippines bought a 29.8-per cent stake in HR Owen for £8.3 million in June 2013.

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Listed Berjaya Philippines Inc., a unit of Malaysia-based Berjaya Corporation Berhad, on October 14 said that it has acquired nearly 70 per cent of US-based luxury car dealer H.R. Owen at the end of its take over bid on October 11. "At the close of the period, the issuer acquired 17,465,685 shares or 69.74 per cent of H.R. Owen’s issued and outstanding capital," Berjaya Philippines told the Philippine Stock Exchange. Corporate secretary Jose A. Bernas said that Berjaya Philippine has no plans to further acquire shares in H.R. Owen. "We're happy with the 69.74 per cent. We have no immediate...

Reading Time: 1 minute

hrowenlotusListed Berjaya Philippines Inc., a unit of Malaysia-based Berjaya Corporation Berhad, on October 14 said that it has acquired nearly 70 per cent of US-based luxury car dealer H.R. Owen at the end of its take over bid on October 11.

“At the close of the period, the issuer acquired 17,465,685 shares or 69.74 per cent of H.R. Owen’s issued and outstanding capital,” Berjaya Philippines told the Philippine Stock Exchange.

Corporate secretary Jose A. Bernas said that Berjaya Philippine has no plans to further acquire shares in H.R. Owen.

“We’re happy with the 69.74 per cent. We have no immediate plans for H.R. Owen,” he added.

Corporate secretary Jose A. Bernas said that Berjaya Philippines hopes to bring the H.R. Owen business model to Asia.

H.R. Owen Group operates a number of vehicle franchises in the prestige and specialist car market which include Aston Martin, Audi, Bentley, BMW, Bugatti, Ferrari, Lamborghini, Lotus, Maserati, Mini, Pagani and Rolls-Royce for both sales and after sales, predominantly in the London area.

On July 30, Berjaya Philippines made an offer of 130 pence per H.R. Owen shareand had since extended its offer three times.

Controlled by Malaysian tycoon Vincent Tan, Berjaya Philippines bought a 29.8-per cent stake in HR Owen for £8.3 million in June 2013.

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