PETALING JAYA: The closing date and time for acceptances of the unconditional takeover offer by Kumpulan Perangsang Selangor Bhd to acquire all the remaining shares in Century Bond Bhd (CBB) not already owned by the offeror, have been extended from 5pm on Dec 12, to Dec 27.

Based on valid acceptances received in respect of the offer as at 5pm on Dec 6, the offeror holds 109.05 million CBB shares, representing 90.87% of CBB’s total issued and paid-up share capital,” CBB told Bursa Malaysia.

Recall that in Aug, KPS first proposed to acquire a 71.44% stake in CBB, a company that specialises in industrial packaging such as cement bags.

The deal valued at RM150mil or RM1.75 per share will result in KPS extending a mandatory general offer to mop up the remaining shares in the company if the transaction materialises.

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