Ananda Krishnan's recently privatised gaming unit
Genting to buy Tanjong for us$ 832 million
(Malaysia) - Malaysia's Genting has finalised us$ 832.4 million bid to acquire the gaming unit of tycoon Ananda Krishnan's recently privatised Tanjong, the Star newspaper reported.
2011-07-07
Reading time 26 seg
"They'll be signing the deal on Thursday worth us$ 832.4 million," the newspaper quoted an unidentified source as saying.
Other bidders for Tanjong's Pan Malaysian Pools included mostly Malaysian firms such as Olympia Industries and Ekovest as well as Filipino tycoon Roberto Ongpin, the Star said.
Genting and Tanjong were not immediately available for comment. Pan Malaysia Pools controls a 24 % market share in the number forecasting business that's dominated by larger rivals Berjaya Sports Toto and Multi-Purpose Holdings.
The Star said when Tanjong was taken private by Krishnan in September last year; Pan Malaysian Pools was valued at 2.3 billion ringgit to 2.5 billion ringgit. (US$ 1 = 3.003 Ringgit).
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