in a conditional share purchase agreement between the two companies. With the acquisition, Sime Darby will be getting approximately 61.18% of equity interest in UMW.
The announcement was made today to Bursa Malaysia, which was followed by a suspension of trading of the shares for both companies in a filing made to Bursa.reported that Permodalan Nasional Bhd was considering the merger of Sime Darby’s auto business, Sime Darby Motors and Perodua. The acquisition is to create a new automotive group that has a potential worth more than RM 10 billion.
PNB, the largest shareholder in Sime Darby, already has a 10% direct stake in Perodua, whose other shareholders include Daihatsu, MBM Resources and Mitsui & Co. On why Sime Darby is pursuing the acquisition, the brand mentioned that it is to scale up and strengthen group’s motors business, positioning Sime Darby as a leading automotive player with more than 50% market share in Malaysia, as well as enhancing sustainable returns by entering into new brand ecosystem with Toyota and Perodua, among others.
Sime Darby is set to be the biggest automotive player in the market with the acquisition, as the brand will have more than 50% of the market share with brands such as