Berjaya Corp buys 70% stake in Ascot Sports. Berjaya Corp has entered into a conditional S&P agreement with Tan Sri Dato’ Seri Vincent Tan Chee Yioun (TSVT), for the proposed acquisition of a 70% equity stake in Ascot Sports S/B (Ascot) for RM525m. BCorp is also proposing to undertake a renounceable rights issue of up to RM614.45m nominal value ICULS on 1 one-for-eight BCorp shares basis. The Minister of Finance has given its approval for the re-issuance to Ascot of the licence to carry out sports betting operations upon certain terms and conditions. Ascot proposes to commence its sports betting operation in the 2nd half of the year 2010 subject to relevant approvals being obtained.
Berjaya Sports Toto Berhad : Place Your Bets! - 13/05/2010
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