Berjaya Philippines Inc is reported to have bought the remaining shares in HR Owen.

It will be acquiring an additional 26.31% stake in UK-based luxury cars dealer HR Owen Plc after signing a sale shares deal at the weekend.

Berjaya Philippines owns 72.07% of HR Owen and has bought the car retailer’s remaining 26.31% stake for £149.8 million at £2.25 per share for more than 66.5 million shares.

It has paid 10% in cash and will pay the remaining 90% in the next six months, reports DealStreetAsia.

Berjaya Philippines is 74.2% owned by Berjaya Lottery Management (HK) Limited of Hong Kong, and 14% by Berjaya Sports Toto (Cayman).

Berjaya Philippines’ ultimate parent is Berjaya Sports Toto Berhad of Malaysia, a publicly listed company in the Kuala Lumpur stock exchange.