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Thursday, March 28, 2024

Berjaya PH gets stake in 7-Eleven Malaysia

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Berjaya Philippines Inc. said it acquired a 1.59-percent stake in 7-Eleven Malaysia Sdn. Bhd., the owner and operator of 7-Eleven stores in Malaysia, for P124.5 million.

Berjaya Philippines said in a disclosure to the stock exchange it purchased 6.05 million shares of 7-Eleven Malaysia through the open market on March 1, 2018 to Sept. 3, 2018. It bought the shares at an average price of RM1.48 or P19.14 per share.

Berjaya Philippines said that with the acquisitions, it now owned 18 million shares in 7-Eleven Malaysia, or equivalent to a 1.59-percent stake in the company.

7-Eleven Malaysia is the single largest convenience store chain in Malaysia with more than 2,100 convenience stores all over the country.

Berjaya Philippines, the local unit of Malaysia-based conglomerate Berjaya group, is an investment holding company primarily engaged in gaming, hotels, quick service restaurant and automotive distribution.  Its subsidiary Philippine Gaming Management Corp. is engaged in the leasing of online lottery equipment and providing software support.

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