JC&C offers to takeover Cycle & Carriage Bintang

The company currently holds 89.994% of CCB's issued shares.

Jardine Cycle & Carriage Limited (JC&C) has offered to acquire the remaining stake of Cycle & Carriage Bintang Berhad (CCB) for RM2.70 ($0.85) per offer share.

Currently, JC&C holds 89.994% of CCB's issued shares.

In a bourse filing, JC&C said its offer to takeover CCB is unconditional.

The acquisition will be funded through internal resources and/or external borrowings. 

If CCB fully accepts JC&C's offer, the total consideration for the offer shares will be approximately RM27.2m ($8.61m).

(1 SGD = 3.16 RM)

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