KUALA LUMPUR – The heads of Sanichi Technology and PNE PCB proposed a takeover of PCB assembler BSL, according to reports. Sanichi managing director Datuk Seri Pang Chow Huat and PNE PCB executive director Ho Jien Shiung jointly proposed the acquisition.

The two acquired a 51.72% stake, or 49.98 million shares in BSL, for RM57.47 million (US$13.7 million) from Esteem Role on June 23. Following the acquisition, they were required to extend an unconditional mandatory takeover offer for the remaining 46.65 million shares.

“The acquisitions would allow the joint offerers to acquire statutory control of the businesses and operations of BSL, whereby, the joint offerers are accorded the flexibility to implement various business strategies (e.g., joint marketing strategy) for BSL to realize its future growth potential,” they said.

Ed.: RM1 = US$0.24

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