KUALA LUMPUR, Nov 29 — Kulim has rejected a non-binding offer from Carlyle Group to buy over its subsidiary QSR Brands, the company said today.
“As QSR and (its) subsidiaries are currently experiencing a robust growth, the board believes that more value can be realised in the long term,” Kulim said. — Reuters
No need to sell (lah). There are news saying Johor Corp wants to pay off debts. Why can't they just restructure or refinance the debt and use some of its subsidiaries' shares as collateral? Better to keep this cash cow gem and realize its value years later which could be a lot higher than current valuations. OR could it be that QSR shares are played up to give a boost to Kulim's share price and Johor Corp will be able to sell Kulim's shares at a more handsome price which could give Johor Corp even more cash? Just a thought :p