Sime Darby Bhd has signed a deal to buy Permodalan Nasional Bhd’s (PNB) 61.2% stake in UMW Holdings Bhd for RM3.57 billion in cash, or RM5 per share. Once the deal is confirmed, Sime Darby plans to make a general offer for the remaining 38.8% stake to delist UMW from the stock exchange. This move will strengthen Sime Darby’s position as a major player in Malaysia’s automotive sector, including the addition of Toyota and Perodua brands to its portfolio.

Sime Darby’s CEO, Datuk Jeffri Salim Davidson, highlighted the positive impact of the acquisition on earnings per share and shareholder returns. The acquisition is expected to be completed within three months, subject to regulatory and shareholder approvals.
As a result of the acquisition, Sime Darby will own a 38% stake in Perodua and a 51% equity interest in UMW Toyota Motor Sdn Bhd. PNB, the state investment firm, will still hold a 10% stake in the national carmaker and is the largest shareholder in Sime Darby with a 41.56% stake.
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