BERJAYA Philippines, Inc. said on Tuesday it has acquired 5.4 million common shares in 7-Eleven Malaysia Holdings Berhad (SEM) for a total cash consideration of 7.38 million Malaysian ringgit (RM) or P87.16 million.
The shares purchased represent a 0.49 percent stake in 7-Eleven Malaysia.
Purchases were made in the Malaysian open market during the period commencing July 4 to July 14, 2017 for investment purposes, Berjaya Philippines said in a disclosure to the Philippine Stock Exchange.
Berjaya Philippines said it purchased the said shares at an average price of 1.37 RM or P16.14 per share.
Incorporated on August 16, 2013, 7-Eleven Malaysia, through its 100-percent owned subsidiary 7-Eleven Malaysia Sdn. Bhd., is the operator of 7-Eleven convenience stores in the said country.
It is the single largest convenience store chain in Malaysia with more than 2,100 branches.
Locally, Philippine Seven Corp. operates the franchise of the 7-Eleven convenience stores.