MANILA, Philippines - Berjaya Philippines will buy a stake in a London-based property firm.
In a disclosure to the stock exchange, Berjaya Philippines said it will buy acquire 50,001 shares in RBW Holdings Limited, for 1 pound a share. The acquisition price is 50,001 pounds (around P3.7 million).
The shares are equivalent to a 50% plus 1 share in RBW's total issued shares.
Berjaya Philippines said the deal was aimed at taking advantage of real estate opportunities in London.
RBW is a company that was incorporated for the purpose of acquiring and developing real estate in the United Kingdom.
This is Berjaya Philippines' second acquisition in the United Kingdom. Last year, it took majority control of H.R. Owen, a British car dealer for luxury cars
Berjaya Philippines is a unit of Malaysia's Berjaya group, which has interests in real estate and resorts development, consumer, landfills and water treatment