KUALA LUMPUR, March 6 — Berjaya Corp Bhd (BCorp) is disposing of its entire 85 per cent stake in DSG Holdings Ltd, comprising 8.50 million shares, for RM265.99 million in cash.

BCorp said together with the other DSG shareholders, namely, Earthlodge Investments Ltd and Elque Resources Sdn Bhd, the three companies had signed a share purchase agreement with Besino Environment Ltd for the proposed disposal of 100 per cent equity interest, comprising 10 million ordinary shares in DSG for a cash consideration of RM312.93 million.

"The proposed disposal provides an opportunity for us to realise our investment in DSG, and it will not have any effect on the issued share capital and substantial shareholders’ shareholdings of BCorp,” it said in a filing to Bursa Malaysia today.

BCorp said it expected a RM108.29 million pre-tax gain from the proposed disposal.

"Barring any unforseen circumstances, the disposal was anticipated to be completed by year-end,” it said.

DSG was incorporated in Labuan on June 4, 2010 and is principally involved in the production and supply of potable water, wastewater treatment projects and provision of advisory and management services on construction projects in China. — Bernama