IN a year of few privatisation deals, that of Main Market-listed OldTown Bhd stood out.
A RM1.47 billion offer by a Dutch company to take the homegrown operator of contemporary kopitiam outlets private, at a time when it was struggling with growing competition and a tougher operating outlook, gave shareholders, including minorities, the opportunity to exit before things got worse.
This timely exit — at a price analysts covering the stock said was worth accepting as it was above their 12-month target prices — makes OldTown our privatisation of the year.