Berjaya Philippines buys 30% of London-based luxury car dealer

Listed Berjaya Philippines Inc., the local unit of Malaysian-based Berjaya Corporation Berhad, expanded its car dealership business buying 29.81 percent of a London-based car distributor.

 

In a disclosure to the Philippine Stock Exchange, Berjaya Philippines noted it acquired shares of stock in H.R. Owen, a corporation registered in England and Wales and is listed on the London Stock Exchange (LSE).

 

It bought 7.04 million ordinary shares, or 29.81 percent of the total issued and fully paid capital, in H.R. Owen at £8.33 million, or P540.36 million.

 

"The said shares of stock were acquired for long term investment purposes as part of the issuer’s diversification exercise," the disclosure read.

 

It added that the shares were purchased based on prevailing market prices at the time of acquisitions through the LSE.

 

H.R. Owen Group operates a number of vehicle franchises in the prestige and specialist car market which include Aston Martin, Audi, Bentley, BMW, Bugatti, Ferrari, Lamborghini, Lotus, Maserati, Mini, Pagani and Rolls-Royce for both sales and after sales, predominantly in the London area.

 

In September 2012, Berjaya invested 30-percent in Berjaya Auto Philippines Inc., an exclusive distributor of Mazda vehicles.

 

Its other businesses include Philippine Gaming Management Corporation for leasing on-line lottery equipment and providing software support; Berjaya Pizza Philippines Inc., an exclusive franchise of Papa John’s Pizza; Perdana Hotel Philippines Inc.; and Perdana Land Philippines Inc. — Danessa Rivera/VS, GMA News