Kota Kinabalu: Sime Darby Bhd is acquiring a 61.2 per cent stake in UMW Holdings Bhd from Permodalan Nasional Bhd (PNB) for RM3.57 billion in cash, to further scale up and strengthen its presence in the Malaysian automotive sector.
The exercise, one of the largest merger and acquisition deals in Malaysia, will strategically transform Sime Darby into a leading automotive player in the country with the addition of high-volume mass-market brands, Toyota and Perodua, capturing up to 60 per cent of domestic automotive total industry volume.Group chief executive officer Datuk Jeffri Salim Davidson said the acquisition will complement Sime Darby’s existing premium-to-luxury portfolio, namely BMW, Rolls-Royce and Porsche.
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