Avilion Port Dickson Could Be Bought By A Chinese Firm For RM382 Million
Avillion Port Dickson's value is worth RM151.11 million.
By Sarah Razif — 02 Mar 2020, 03:06 PM
Avillion Bhd received an offer letter on Friday, 21 February, from a China-based investment group to purchase its Port Dickson resort for RM382 million
The group, Guangxi East Hangyang, is looking to buy at least six plots of Avillion Port Dickson's land in Negeri Sembilan.
The Edge reported that Avillion Port Dickson's value is worth RM151.11 million.
The offer is valid for 30 days from the date of the letter
According to The Edge, Guangxi East Hangyang is "a foreign company unknown" to Avillion.
"The indicative price mentioned in the letter of offer is for a consideration of RM382 million, is subject to due diligence and final agreements such as land purchase agreements to be signed," Avillion said.
Avillion's board of directors will consider the offer and make further announcements on the matter
"The board would like to emphasise that this offer is unsolicited, and is subject to due diligence and agreements as may be imposed by the offeror," Avillion said.
The board is unable to comment on the offer and the financial capability of the investment group.
