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Tuesday, August 26, 2008

IOI Corp buys Menara Citibank

PETALING JAYA: IOI Corp Bhd has succeeded in its bid to buy Menara Citibank for an undisclosed sum, the company said.

It told Bursa Malaysia yesterday that it was acquiring the building from Inverfin Sdn Bhd. However, it declined to state the price for the building. A local media report had said the price tag was RM800mil.

“The company shall make the requisite announcement on the detailed terms of the purchase in accordance with the listing requirements as soon as the definitive agreement has been executed,” it said.

Trading in IOI Corp shares was voluntarily suspended at 4.22pm yesterday and will resume at 9am today.

The share price fell 15 sen to RM5 before the suspension.

By The Star

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