Sime Darby Takes Over UMW – Continues to Lead the Automotive Arena With the Addition of Toyota and Perodua Brands

 

Sime Darby today announced that they will take over 61.2% of UMW Holdings Berhad, thus establishing them as one of the leading companies in the automotive, aerospace, manufacturing and engineering arena.

Under the announcement of this agreement, Sime Darby will buy PNB's 61.2% stake at a price of RM3.57 billion. In addition, Sime Darby also stated that it will make a public offer for 38.8% of the shares that it does not own, and at the same time remove UMW from Bursa Malaysia.

This takeover also strengthens Sime Darby's position in the automotive arena in Malaysia - including the addition of two popular brands, namely Toyota and Perodua.

Sime Darby itself has a number of brands under them, including BMW, Mini, Porsche, BYD, and so on.

Various processes involving this takeover are expected to be completed within 3 months from the date of the agreement.