CelcomDigi and Maxis each pay RM327.87m for DNB shares from MoF Inc

Question

Accepted Answer

CelcomDigi and Maxis Each Paid RM327.87 Million for DNB Shares from MoF Inc

CelcomDigi Bhd and Maxis Bhd have each paid RM327.87 million to acquire their respective ordinary shares in Digital Nasional Bhd (DNB) from the Minister of Finance Incorporated (MoF Inc). This payment also covers the settlement of the outstanding MoF Inc loan within the company.
Acquisition of Ordinary Shares and Loan Settlement

Both telecommunication companies have successfully acquired their proportionate stakes in DNB previously held by MoF Inc. The RM327.87 million payment made by each entity encompasses not only the acquisition of these shares but also the settlement of the outstanding loan extended by MoF Inc to DNB.
CelcomDigi's Assumption of Loan Obligations

CelcomDigi's payment includes its proportionate share of the MoF Inc loan, along with accrued interest and additional shareholder advances. These additional obligations total RM161.17 million and form a component of the overall option price for its DNB stake. Consequently, the MoF Inc's ordinary shares will be officially registered under CelcomDigi's name as per the shareholders' agreement terms.
Maxis's Corresponding Transaction

Similarly, Maxis, through its subsidiary Maxis Broadband Sdn Bhd, has completed its transaction with MoF Inc. This involved making the identical payment of RM327.87 million to secure its corresponding shareholding in DNB. The payment also covered its portion of the related MoF Inc loan, including any accrued interest and additional shareholder advances.

Reading history

Hide →

This history is cleared when the page is closed.

CelcomDigi and Maxis each pay RM327.87m for DNB shares from MoF Inc

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends