Genting Launches $1.6 Billion Take-Private Offer for Genting Malaysia
By Ying Xian Wong
KUALA LUMPUR, Malaysia--Genting has launched a $1.6 billion conditional voluntary takeover offer for all the remaining shares it doesn't already own in Genting Malaysia, as the conglomerate seeks to gain full control of the company and consolidate its financials.
Genting is offering MYR2.35 a share for the 50.64% stake, or 2.9 billion shares, it doesn't hold in the affiliate, it said in a filling to the stock exchange on Monday. The company owns a 49.36% stake in Genting Malaysia. Genting Malaysia's last traded price was at 2.14 ringgit on Oct. 10.
Shares of both companies were suspended from trading pending the material announcement.
Genting plans to finance the 6.74 billion ringgit offer through a mix of approximately 6.3 billion ringgit in loans and internally generated funds. Genting plans to delist Genting Malaysia if its stake reaches 90% or more following the offer.
The move comes as Genting plans to strengthen its position in Genting Malaysia and better support major projects like the potential $5.5 billion New York integrated resort following its bid for a downstate New York casino license.
Genting said its offer also allows shareholders to sell at a premium ranging from 9.8% to 22.9%, while enabling Genting to consolidate Genting Malaysia's financials and enhance its global growth prospects.
Write to Ying Xian Wong at yingxian.wong@wsj.com
(END) Dow Jones Newswires
October 13, 2025 05:54 ET (09:54 GMT)
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