Malaysian Sime Darby To Take Over UMW Holdings

Malaysian conglomerate Sime Darby announced that it will take over UMW Holdings, the distributor, assembler, and exporter of Toyota vehicles in Malaysia, in a deal worth RMB 3.57bn, the Business Times reported.

Most of Sime Darby’s operations are outside Malaysia and UMW Holdings’ business is almost entirely concentrated within the country. The acquisition will help Sime Darby narrow the gap between its local and international presence, Sime Darby CEO Datuk Jeffri Salim Davidson said.

According to the CEO, Sime Darby’s Malaysian exposure will double to around 30% following the acquisition.

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