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Ong Leong Huat, Land Mgmt to buy 73% of OSK Property for RM122.4m

KUALA LUMPUR: OSK Property Bhd executive director Ong Leong Huat and Land Management Sdn Bhd have proposed to acquire the outstanding 73.74% stake in the property company in a deal valued at RM122.41 million.

OSK Property said on Friday, May 27 it received a notice of conditional take-over offer from Ong and Land Management to acquire the remaining 137.424 million shares at 87 sen each or RM119.55 million.

They also offered to acquire the remaining 47.812 million warrants which had not been converted into new OSK Property shares at six sen each or a total of RM2.86 million.

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