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Malaysia IJM In Talks To Buy Europlus Stake |
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Written by Patrick
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Friday, 27 May 2005 |
KUALA LUMPUR (Dow Jones)--Malaysia's IJM Corporation Bhd. (3336.KU), a
construction and property development firm, Friday said it is in talks
to acquire a significant stake in construction firm Kumpulan Europlus
Bhd. (3565.KU).
But IJM denied a recent local press report which
said the company is in talks to acquire a controlling stake in Talam
Corp. Bhd. (2259.KU).
"The company is in discussions with Chan
Ah Chye and others to acquire a substantial stake in Kumpulan
Europlus," IJM said in a statement to the local stock exchange.
Earlier Friday, Chinese-language daily Nanyang Siang Pau reported that
IJM is in negotiations to buy businessman Chan Ah Chye's controlling
stake in Talam.
But IJM said it isn't involved in any such talks.
"The company is not in negotiation to acquire a controlling stake in Talam Corporation Bhd.," IJM said.
Chan owns controlling stakes in both Talam and Europlus, which has a market capitalization of about MYR143 million.
"Further details on acquisition talks with Europlus will be disclosed when the deal is finalized," IJM added.
Europlus and Talam officials weren't immediately available for comment.
source: yahoo finance, singapore
link: http://sg.biz.yahoo.com/050527/15/3sqfn.html
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