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Rank’s majority shareholder receives privatisation offer

12th December 2012 9:11 am GMT

Rank Group’s majority shareholder Guoco Group Limited has received an offer of HK$8.25bn (US$1.1bn) to take the company private following a bid from a Hong Kong-based investment firm controlled by Malaysian billionaire Quek Leng Chan.

Guoco, which owns 74.5 per cent of Rank Group, said Wednesday that it has received an offer from Guoline Overseas Limited, a wholly-owned indirect subsidiary of investment company Hong Leong, in which Quek Leng Chan has a direct and deemed [...]

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