Business

Berjaya PH trims stake in 7-Eleven Malaysia

Investment holding firm Berjaya Philippines has disposed P161.09 million worth of shares in the company that owns and operate the 7-Eleven convenience store chain in Malaysia.

Investment holding firm Berjaya Philippines has disposed P161.09 million worth of shares in the company that owns and operate the 7-Eleven convenience store chain in Malaysia.

In a regulatory filing, Berjaya disclosed that that it sold 9.843 million shares in 7-Eleven Malaysia Holdings Berhad (SEM) for P16.37 per share.

SEM is the largest convenience store chain in Malaysia with more than 2,300 stores nationwide.

Following the disposal, Berjaya now holds a total of 6.856 million SEM shares or 0.60% of the company.

Berjaya, through wholly-owned subsidiary Philippine Gaming Management Corp., is engaged in the leasing of online lottery equipment and providing software support to the Philippine Charity Sweepstakes Office.

The group is also into automotive distribution through Berjaya Auto Philippines; hospitality service through Perdana Hotel Philippines; and leasing and finance through Chailease Berjaya Finance Corp.

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