Bloomberg News

PNB Makes SP Setia Takeover Bid at 3.90 Rgt/Share, Maybank Says

September 28, 2011

Sept. 28 (Bloomberg) -- Permodalan Nasional Bhd., Malaysia’s biggest state-asset manager, made a takeover offer for property developer SP Setia Bhd. today at 3.90 ringgit per share in cash, Maybank Investment Bank Bhd. said in an e-mailed statement today.

PNB, as it’s known, already owns 33.2 percent of SP Setia’s shares, said Maybank, which is acting on the fund’s behalf. SP Setia’s Kuala Lumpur listing status would be maintained, it said.

To contact the reporter on this story: Elffie Chew in Kuala Lumpur at echew16@bloomberg.net

To contact the editor responsible for this story: Barry Porter at bporter10@bloomberg.net


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