• The deal will make CBN a wholly owned unit of Bonia upon completion of the acquisition, which is expected to take place in the third quarter of this year, according to the luxury retailer's filing with Bursa Malaysia.

KUALA LUMPUR (June 24): Bonia Corp Bhd (KL:BONIA) is acquiring the remaining 10% stake in its property investment subsidiary, Casa Bologna Sdn Bhd (CBN), from One Seafood F&B Sdn Bhd for RM2.1 million.

The deal will make CBN a wholly owned unit of Bonia upon completion of the acquisition, which is expected to take place in the third quarter of this year, according to the luxury retailer's filing with Bursa Malaysia.

Bonia currently holds a 90% stake in CBN—which owns two parcels of land in Bukit Bintang—after acquiring an additional 25% stake for RM5.66 million in March.

Shares of Bonia closed up five sen or 4.76% at RM1.10, giving it a market capitalisation of RM221.73 million.

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