Jan 11 (Reuters) - :
* Malaysia's Cahya Mata sarawak up 16 percent on UBG stake
sale news
* Cahya Mata Sarawak has agreed to sell to PetroSaudi International Ltd its stake in UBG for 2.50 ringgit a share, Cahya Mata Sarawak told the stock exchange on Friday.
* Cahya Mata holds an indirect effective stake of 32.84% in UBG. PetroSaudi will pay 465.5 million ringgit for the stake.
* 'PetroSaudi will likely use the UBG group's construction units to further its high impact energy investments in Malaysia, especially in Sarawak, under its USD2.5b partnership with 1Malaysia Development (1MDB),' Maybank Investment Bank said .
'This is positive for FDI flows, but negative for equity investors who will have fewer options to participate in Sarawak's development potential,' said Maybank. (Kuala Lumpur Newsroom Tel: +603 2333-8046; Fax: 603 2072-6752; Bureau email: areuters@gmail.com) (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Malaysia's Cahya Mata sarawak up 16 percent on UBG stake
sale news
* Cahya Mata Sarawak has agreed to sell to PetroSaudi International Ltd its stake in UBG for 2.50 ringgit a share, Cahya Mata Sarawak told the stock exchange on Friday.
* Cahya Mata holds an indirect effective stake of 32.84% in UBG. PetroSaudi will pay 465.5 million ringgit for the stake.
* 'PetroSaudi will likely use the UBG group's construction units to further its high impact energy investments in Malaysia, especially in Sarawak, under its USD2.5b partnership with 1Malaysia Development (1MDB),' Maybank Investment Bank said .
'This is positive for FDI flows, but negative for equity investors who will have fewer options to participate in Sarawak's development potential,' said Maybank. (Kuala Lumpur Newsroom Tel: +603 2333-8046; Fax: 603 2072-6752; Bureau email: areuters@gmail.com) (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.