Kuala Lumpur: The majority shareholder of MBf Holdings has raised his takeover offer for the outstanding 6.8% of the group he does not control to RM1.70. Tan Sri Dr Ninian Mogan Lourdenadin, MBf’s ceo and majority shareholder, is determined to take the conglomerate private. MBfis a diversified group with businesses including properties, plantations and manufacturing. Its shipping division is MBf Carpenters Shipping, which is involved in containers and breakbulk, owns two ships and plies routes connecting Southeast Asia with the South Pacific.
Affin Investment Bank has recommended MBf Holdings Bhd minority shareholders accept the revised RM1.70 takeover offer. Affin Investment, which is the independent advisor to the minority shareholders of MBf, noted that MBF’s shipping division was currently making big losses. [29/03/13]
