PPB: No trans­ac­tion for cin­ema arm yet

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: PPB Group Bhd has clar­i­fied that no de­ci­sion has been made to pur­sue any par­tic­u­lar op­tion for its cin­ema op­er­a­tions un­der Golden Screen Cine­mas Sdn Bhd (GSC) and that no trans­ac­tion has been agreed as at yes­ter­day.

PPB shares closed 16 sen lower at RM16.04 with 1.08 mil­lion shares chang­ing hands yes­ter­day, on a news of a po­ten­tial sale of GSC.

PPB said the com­pany reg­u­larly eval­u­ates var­i­ous strate­gic op­tions for all its busi­nesses, in­clud­ing GSC, with a view to op­ti­mis­ing share­holder value.

“Share­hold­ers and po­ten­tial in­vestors of the com­pany should note that the eval­u­a­tion of strate­gic op­tions may or may not re­sult in any trans­ac­tion, and ac­cord­ingly are ad­vised to ex­er­cise cau­tion when deal­ing in the shares of the com­pany,” PPB said in a stock ex­change fil­ing yes­ter­day.

It was re­ported that bil­lion­aire Robert Kuok, who con­trols PPB group, is seek­ing a buyer for GSC in a deal that could fetch as much as US$500 mil­lion (RM2.06 bil­lion).

PPB was said to have re­ceived firstround bids for the cin­ema business.

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