Berjaya Philippines closes US luxury car dealer takeover

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...

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Donation Total: $10.00

 

 

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