Local Berjaya unit acquires stake in 7-Eleven Malaysia
Publicly-listed online lottery provider Berjaya Philippines Inc. has acquired a 1.59 percent stake in the Malaysian operator of the 7-Eleven convenience store chain.
In a disclosure to the Philippine Stock Exchange yesterday, Berjaya Philippines said it acquired 6.5 million shares in Seven Eleven Malaysia Holdings Berhad (SEM).
The company bought the shares in the open market of Bursa Malaysia Securities Berhad for P124.5 million or P19.14 a piece.
7-Eleven is the single largest convenience store chain in Malaysia with over 2,100 stores
“Following the acquisition, the issuer now holds a total of 18 million ordinary shares representing 1.59 percent equity interest in SEM. The SEM shares were acquired free from all encumbrances and the acquisition was funded from the issuer’s internal funds,” Berjaya Philippines said.
Incorporated in August 2013, SEM through its 100 percent owned subsidiary, 7-Eleven Malaysia Sdn. Bhd., is the owner and operator of 7-Eleven Stores in Malaysia.
Berjaya Philippines Inc., a publicly listed company, meanwhile, was originally incorporated on Oct. 31, 1924 as Central Azucarera de Pilar mainly for the purpose of production of sugar.
It subsequently changed its name to Prime Gaming Philippines Inc. and completed the acquisition of its subsidiary corporation, Philippine Gaming Management Corp. (PGMC) in 1998. In 2010, its board approved the change of name to the present one.
Berjaya Philippines is into various businesses such as PGMC, which is involved in the business of leasing online lottery equipment and providing software support; prepaid loading distributions such as load central, a distribution solution provider for all prepaid services in the country, and hotels through Perdana Hotel Philippines Inc. which now manages Berjaya Makati, a 223-room four-star hotel in Makati City.
It also owns H.R. Owen PLC, which operates as a franchised motor dealer in the United Kingdom.
The company sells new and used motor vehicles of various brands. It also engages in the after-sales operations, including servicing vehicles; sale of parts and accessories; and bodyshop repair services. The company operates retail outlets in London, Berkshire, Gloucestershire, Hertfordshire, Surrey and Manchester, which include 14 sales franchises and 13 after-sales franchises for its Aston Martin, Bentley, Bugatti, Ferrari, Lamborghini, Maserati, Pagani and Rolls-Royce vehicles; and operates after-sales only franchises for Audi, BMW, Lotus and MINI.
It is also behind Bermaz Auto Philippines Inc., the distributor of Mazda Motor Corp. (Japan) to distribute Mazda vehicles and parts in Philippines.
Another business is Berjaya Pizza Philippines which operates Papa John’s Pizza in the Philippines. As of April 30, 2017, it was operating 21 Papa John’s stores in Metro Manila and it expects to open 100 stores by 2020.
The company’s ultimate parent is Berjaya Sports Toto Berhad of Malaysia, a publicly listed company in the main board of Bursa Malaysia Securities Berhad.