Berjaya Land Increases Stake In BToto

KUALA LUMPUR, May 15 (Bernama) -- Berjaya Land Bhd has increased its stake in Berjaya Sports Toto Bhd (BToto) by buying an additional 0.59 per cent stake for RM20 million cash. The deal will increase the property developer's interest in BToto to 40.83 per cent. In a filing to Bursa Malaysia on Tuesday, it noted the purchase involved 8.0 million ordinary shares in BToto from its holding company Berjaya Corp and its units via direct business transactions from April 22 to May 13 at RM2.50 per share. Berjaya Land stressed that the cash consideration of the acquisitions was at the prevailing market prices of BToto shares at the time of acquisitions. The acquisitions were funded from internal funds. -- BERNAMA