Billionaire Robert Kuok controls PPB, which is buying the stake in developer Hillcrest Gardens.
PETALING JAYA: PPB Group Bhd
, the company controlled by billionaire Robert Kuok(pic), has agreed to acquire the Armed Forces Fund Board’s (LTAT) entire 16.8% stake in property developer Hillcrest Gardens Sdn Bhd for RM59mil cash.
The purchase price is a 76% premium over Hillcrest’s audited consolidated net assets as at Dec 31, 2017.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
