| | STUFF : BUSINESS - STORY : New Zealand's leading news and information website (Site not responding. Last check: 2007-10-14) |
 | | Sources told Reuters yesterday that Hong Kong property group Guoco, controlled by Malaysian tycoon Quek Leng Chan, was set to make a full buy-out offer for BIL International in a deal that would value the owner of the UK's Thistle Hotels group at as much as to $S1.8 billion ($NZ1.65 billion). |
 | | Quek bought about 138.5 million shares in BIL in a block trade at S$1.20 a share earlier on Wednesday, just minutes before the stock was suspended from trading, the first source said. |
 | | Quek controls less than 30 per cent of BIL through various channels including Camerlin Group and Guoco Group Ltd. The price for Longleaf's stake is close to the group's net tangible asset is $US0.73 a share ($NZ1.10), according to BIL's last published results for the period ended March 31. |
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