KUALA LUMPUR, Aug 25 (Reuters) - Malaysia's plantation-to-property firm IOI Corp confirmed press reports on Monday that it had won a bid to buy the Menara Citibank building in Kuala Lumpur from Inverfin, a Citigroup Inc affiliate.
IOI in a statement to the Bursa Malaysia on Monday, declined to comment on a report in the Edge Financial Daily that it had agreed to pay 800 million ringgit ($237.2 million) for the building, terming the purchase price mentioned as "purely speculative".
Trading in IOI shares has been halted from following the announcement. The stock was last traded at 5.00 ringgit. ($1=3.373 Malaysian Ringgit)
(Reporting by David Chance, Editing by Soo Ai Peng)
Monday, August 25, 2008
Malaysia's IOI says won bid for Citi building
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