KUALA LUMPUR: Sime Darby Bhd is expected to receive RM63 mil to RM76 mil in special dividend when Thailand’s CP Group completes the purchase of Tesco Malaysia.
Maybank IB Research in its note today said the dividend is via its 30% stake in Tesco Malaysia.
“We maintain our buy call on Sime Darby with the target price of RM2.58,” it added.
At the lunch break, Sime Darby Bhd went up three sen to RM1.90 with 2.85 million shares transacted.
Yesterday, Thailand’s Charoen Pokphand (CP) Group announced that its board had approved a deal for its subsidiaries to buy up to 86.9% of the Thai business of British retailer Tesco and 100% of the retailer’s Malaysian business.
The deal was valued at US$10.6 bil (RM44.77 bil). – March 10, 2020, Bernama
