KUALA LUMPUR (Nov 8): Genting Malaysia Bhd has acquired the remaining 49% stake in Waters Solihull Ltd that it did not previously own, making the UK-incoprorated restaurant operator an indirect wholly-owned subsidiary of the group.

Genting Solihull Ltd, indirect wholly-owned subsidiary of Genting Malaysia, had acquired 25 ‘A’ ordinary shares from James Driscoll Associates Ltd and 24 ‘A’ ordinary shares from Andrew Mark Waters, the group said in a filing with Bursa Malaysia today.

“The considerations for the acquisitions are nil pursuant to the shareholders’ agreement previously agreed upon between the shareholders of Waters Solihull,” Genting Malaysia said.

To recap, Genting had in July 2015 incorporated the 51%-owned Waters Solihull which had an issued and paid-up share capital of 100 pounds sterling.

The acquisitions do not have any material impact on the net assets and earnings per share of the group for the financial year ending Dec 31, 2017, Genting Malaysia said.

Shares in Genting Malaysia were down 12 sen or 2.26% to RM5.18 today, giving the group a market capitalisation of RM30.76 billion.