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KrisAssets proposing to acquire Mid Valley City Gardens

KUALA LUMPUR: KrisAssets Holdings Bhd is proposing to acquire 100% equity interest in Mid Valley City Gardens Sdn Bhd for RM215.71 million from IGB Corp Bhd.

In a statement to Bursa Malaysia on Friday, Mar 25, KrisAssets said it intended to finance the proposed acquisition from internally generated funds and/or borrowings.

The acquisition will enable KrisAssets to acquire The Gardens Mall, which is adjacent to the Mid Valley Megamall, presently owned by KrisAssets.

It will substantially increase the net lettable area of KrisAssets' retail assets and upon completion of the proposed acquisition, KrisAssets would own two prime retail properties in the city. — Bernama

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