Malaysia Firm Buys Majority In Yellow Pages
The owner of Cambodia Yellow Pages has agreed in principle to sell a 51 percent stake to the subsidiary of Malaysian technology firm CBSA Bhd. in a deal worth $2.04 million, an official at the company said Monday. According to a disclosure last week from CBSA that was posted on the Kuala Lumpur Stock Exchange, the controlling interest in Cambodia Yellow Pages will be transferred from locally owned Cam YP Co. Ltd., to CBSA’s wholly-owned holdings firm CBSA International Sdn Bhd (CISB) on the back of a $1.42 million, or 70 percent, loan from ABA Bank. “The acquisition will enable the CBSA Group to expand its business directory and advertising business geographically and is in line with CBSA’s strategy to expand its base across the Southeast Asia region,” the disclosure states, adding that the deal should go through sometime in the third quarter of this year. ...
