KUALA LUMPUR: YTL Corp Bhd's indirect unit Starhill Global REIT Management Ltd (SGRM) is acquiring 1.5 million shares and two class “C” redeemable preference share in YTL Pacific Star REIT Management Holdings Pte Ltd (YPSRMH) for S$40 million (RM93.2 million).

The shares represented the remaining 50% of the issued and paid-up share capital of YPSRMH, said YTL Corp in a filing to Bursa Malaysia on April 19.

The proposed acquisition is not expected to have any material effect on the group's earnings, net assets and gearing for the current financial year and is not subject to the approval of shareholders. -- Bernama
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