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Friday, August 26, 2011

Sime may be buying 30% stake in E&O (Edge)

Conglomerate SIME DARBY BHD [], which is bolstering its property development division, may acquire a 30% stake in developer Eastern & Oriental Bhd (E&O), two sources familiar with the deal said.

The stake include that held by Singapore-listed G K Goh Ltd, whose shares has been suspended pending an announcement on the deal which is expected as soon as this evening.

The shares of E&O were suspended before trading started today.

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