Malaysia's DRB to buy Jardine's EON stake-report

Newswire

KUALA LUMPUR, Aug 30 (Reuters) - Malaysian auto conglomerate DRB-Hicom is planning to buy a 20 percent stake in car retailer Edaran Otomobil Nasional (EON) from Jardine Matheson Holdings Ltd, the Edge Financial daily said on Thursday. Such an acquisition would boost DRB's stake to about 50 percent in EON, triggering a mandatory offer for the rest of the shares it does not already own, allowing it to fully account for all of EON's earnings. The Edge did not give further details. The ...

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