BFood acquires 1.07% interest while BLand increases stake in 7-Eleven

• Berjaya Food Bhd (BFood) through its wholly owned subsidiary Berjaya Food (International) Sdn Bhd (BFI) had on March 15 acquired a total of 11.87 million ordinary shares representing 1.07% equity interest in SEM.
• The shares were acquired from True Ascend Sdn Bhd — a company controlled by Tan Sri Vincent Tan — via a direct business transaction for a total cash consideration of about RM21.96 million or at RM1.85 per SEM share.

KUALA LUMPUR (March 15): Two Berjaya Corp Bhd subsidiaries have acquired shares in 7-Eleven Malaysia Holdings Bhd (SEM).

In a Bursa Malaysia filing, Berjaya Food Bhd (BFood) through its wholly owned subsidiary Berjaya Food (International) Sdn Bhd (BFI) had on March 15 acquired a total of 11.87 million ordinary shares representing 1.07% equity interest in SEM.

The shares were acquired from True Ascend Sdn Bhd — a company controlled by Tan Sri Vincent Tan — via a direct business transaction for a total cash consideration of about RM21.96 million or at RM1.85 per SEM share.

Berjaya Land Bhd (BLand) in its bourse filing announced that BLand and its wholly owned subsidiary Berjaya Vacation Club Bhd had on July 27, 2022 and March 15 acquired in aggregate of 6.73 million ordinary shares representing about 0.61% equity interest in SEM.

The shares were acquired from a non-related party and True Ascend via a direct business transaction for a total cash consideration of about RM12.1 million or at an average purchase price of about RM1.80 per SEM share.

BFood via BFI now owns 11.87 million shares or 1.07% equity interest in SEM, while the BLand group holds a total of 68.64 million shares or 6.18% equity interest in SEM.

The acquisition represented an opportunity for the BFood group to invest in SEM, while the BLand group stated that the acquisition increases its stake in the convenience store operator.

Both groups said the acquisitions also have no effect on the issued share capital or substantial shareholders’ shareholdings and are not expected to have any material effect on the net assets, earnings and gearing for the financial year ending June 30, 2023.

BFood’s share price closed one sen or 1.01% higher at RM1 on Wednesday (March 15), giving it a market capitalisation of RM1.95 billion.

BLand also closed 0.5 sen or 1.96% higher at 26 sen. Its market capitalisation stood at RM1.3 billion.