Malaysian gaming giant Genting Berhad has launched a conditional voluntary takeover offer to acquire the remaining 50.64% of its subsidiary, Genting Malaysia, that it doesn’t already own.
Genting Malaysia is the entity that controls the group’s Malaysia flagship Resorts World Genting, plus Resorts World New York City – currently a leading contender to win a full casino license in New York – as well as Empire Resorts.
In a filing, Genting Bhd, which currently holds a 49.36% stake in Genting Malaysia – said the takeover offer was for all remaining 2,870,039,874 ordinary shares in Genting Malaysia at a cash offer price of MYR2.35 per share. If it was to acquire all shares, this would value the transaction at MYR6.74 billion (US$1.59 billion).
