Malaysian Tycoon Puts Up $1B To Take Guoco Group Private

Law360, New York (December 12, 2012, 5:50 PM EST) -- Malaysian tycoon Quek Leng Chan on Wednesday launched an HK$8.25 billion (US$1.06 billion) bid to take private Guoco Group Ltd., the Hong Kong-based financial, hospitality and real estate investment firm Chan chairs, as Guoco shares continue to lag behind a rebounding Asian stock market.

At HK$88 per share, Chan's offer values Guoco at HK$28.96 billion, according to a joint statement the would-be buyer and Guoco made to the Hong Kong stock exchange.

“The proposed privatization of Guoco, if successful, will simplify the shareholding structure of Guoco...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.