KUALA LUMPUR: Sime Darby Bhd has offered to take UMW Holdings Bhd private for RM5 a share, by making an unconditional mandatory takeover offer to acquire the remaining 38.82 per cent stake in UMW Holdings it does not own.
The offer follows Sime Darby's purchase of a 61.18 per cent interest in UMW Holdings from Permodalan Nasional Bhd (PNB) for RM3.57 billion cash.
Sime Darby said in its take over offer document filing with Bursa Malaysia Se curities Bhd, the sale and purchase agreement between Sime Darby and PNB became unconditional today.
Sime Darby does not plan to maintain the listing status of UMW Holdings.
Sime Darby's share price was down 1.67 per cent to RM2.35, while UMW Holdings' share price was up 0.82 per cent to RM4.94 a share at close of trading today.