Investment holding company Berjaya Philippines has acquired a minor stake in 7-Eleven Malaysia Holdings for a cash consideration of RM7.3 million (PHP87.16 million/US$1.7 million).
It comprises 5.4 million common shares, with the purchases being made in the Malaysian open market between July 4 and 14 for investment purposes, Berjaya Philippines says in a disclosure to the Philippine Stock Exchange.
Incorporated on August 16, 2013, 7-Eleven Malaysia, through its wholly owned subsidiary 7-Eleven Malaysia, is the largest convenience-store chain in Malaysia with more than 2100 7-Eleven branches.
Philippine Seven runs the franchise for the 1995 7-Eleven stores in the Philippines.