Permodalan Nasional Bhd (PNB) made an offer to takeover S P Setia Berhad with offering price of RM3.90 apiece for the rest of the S P Setia Bhd shares it doesn't already own.
The deal is about RM6.9 billion.
Currently PNB is a major shareholder for SP Setia. The others are EPF and Kumpulan Wang Persaraan. Three of them are holding 47% of SP Setia shares, with:
- PNB 28.51%,
- EPF 13.39%
- KWAP 5%.
SP Setia Bhd is the Malaysia’s biggest listed developer by sales.
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