YTL Corporation Berhad (KLSE:YTL) made an offer to acquire remaining 34.7% stake in YTL Land & Development Berhad (KLSE : YTLLAND) for approximately MYR 170 million on June 13, 2019. Under the terms, YTL Corporation, will acquire all remaining ordinary shares of YTL Land & Development and irredeemable convertible unsecured loan stocks which are not already owned by YTL Corporation at an offer price of MYR 0.36 for each offer share and MYR 0.32 for each irredeemable convertible unsecured loan stocks respectively. YTL Corporation does not intend to maintain the listing status of YTL Land on the main market of Bursa Securities. YTL Corporation also intends to invoke the provision of compulsory acquisition of remaining shares and remaining irredeemable convertible unsecured loan stocks. The transaction is subject to approval by Malaysian Stock Exchange, approval by acquirer Board and is not conditional upon any minimum level of acceptances. The transaction has been approved by the board of YTL Corporation. The shareholders of YTL Corp have approved in the annual general meeting of 2018 the issue of new YTL Corp shares. On June 20, 2019, Bursa Securities resolved to approve YTL Corporation's application for a waiver for having to comply with Main Market listing requirements of Bursa Securities. As of June 24, 2019, Bursa Securities resolved to approve the listing and quotation for the consideration shares on the Main Market of Bursa Securities. As of June 24, 2019, offer became unconditional. As per the independent adviser the offer is considered not fair but reasonable. The offer shall remain open for a period of at least 21 days from the posting date. The transaction is expected to be completed on August 30, 2019. As of August 27, 2019, transaction is expected to close on September 20, 2019. As of September 19, 2019, the transaction is expected to close on October 7, 2019. Johan Hashim, Stella Choy of Affin Hwang Investment Bank Berhad acted as financial advisor to YTL Land & Development in the transaction. Maybank Investment Bank Berhad acted as financial advisor to YTL Corporation in the transaction.

YTL Corporation Berhad (KLSE:YTL) completed the acquisition of an additional 25.2% stake in YTL Land & Development Berhad (KLSE : YTLLAND) for approximately MYR 93.9 million on October 7, 2019. Under the terms of the offer, YTL Corporation Berhad acquired 208.8 million shares and 119.9 million irredeemable convertible unsecured loan stocks.