KLSE:AJI

Japan's Ajinomoto Proposes to Take Malaysian Unit Private

Japan's Ajinomoto (TYO:2802) has proposed taking its Malaysian subsidiary, Ajinomoto (Malaysia) (KLSE:AJI), private through a selective capital reduction and repayment exercise, according to a Friday filing with the Malaysian stock exchange.The Japanese parent company, which currently holds a 50.38% stake in the monosodium glutamate producer, is offering to pay minority shareholders 20 ringgit per share, valuing the transaction at about 603.4 million ringgit.The privatization will be implemented through a capital restructuring process involving a bonus issue and cancellation of shares, leaving the Japanese parent as the sole owner.The deal remains subject to regulatory approvals, court confirmation, and shareholder nod, the filing said.