Berjaya Assets to regain control in BTS for RM250m

KUALA LUMPUR: Berjaya Assets Bhd is buying the remaining 20 per cent stake it does not own in Berjaya Times Square Sdn Bhd (BTS) from the Sultan of Johor for RM250 million in cash. The cash consideration for the purchase was funded through borrowings. The company yesterday inked a share sale agreement with Sultan Ibrahim Sultan Iskandar to buy the 150 million BTS shares at about RM1.67 each. "The acquisition enabled Berjaya Assets to re-gain total control (100 per cent) of the BTS shares at the same consideration when Sultan Ibrahim acquired the BTS shares in 2013," it told Bursa Malaysia.