KUALA LUMPUR: Jardine Cycle & Carriage Ltd (JCCL), the major shareholder of Cycle Carriage Bintang Bhd (CCB) has proposed to take the car distributor private.
JCCL, which owns 59.10%, had on Monday proposed CCB undertake a selective capital reduction and repayment exercise of cash RM2.20 per share -- this is 91 sen or 70.5% above last Friday's closing price of RM1.29.
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