The Star

Berjaya Corp Bhd (BCorp) has proposed to acquire 35.69% of Nexnews Bhd comprising 82.77 million shares together with 16.2 million warrants from Net Edge Online Sdn Bhd and Tong Kooi Ong.

Net Edge is 99.99% owned by Tong. Nexnews is the publisher of The Edge and theSun. 

Currently, BCorp and chairman cum chief executive officer Tan Sri Vincent Tan together have a 52.66% stake in Nexnews. 

The proposed acquisition would see Nexnews become a 54.59% subsidiary of BCorp. 

In an announcement yesterday, BCorp said the acquisition was worth a total RM139.24mil based on RM1.60 per Nexnews share and 42 sen per warrant.