YTL Cement may spend more for Perak-Hanjong

YTL Cement may spend more for Perak-Hanjong
Published: 24 December 2004

YTL Cement Bhd is likely to spend in excess of RM100 million in cash for its general offer for the rest of Perak-Hanjong Simen Sdn Bhd shares that it does not own.    The company, which has control of 64.84 per cent in Perak-Hanjong, served a takeover notice to the latter’s board yesterday and will pay RM1 each for the rest of the shares, or 35.16 per cent in Perak-Hanjoong.   YTL Cement yesterday completed two purchases that led to the general offer. The first was the acquisition of 107.7 million shares, or 32 per cent, of Perak-Hanjoong from Doosan Heavy Industries & Construction Co Ltd for RM75.25 million cash.   It also acquired 109.66 millon shares, or 32.74 per cent, in the company from Danaharta Managers Sdn Bhd for RM109.66 million cash.