Nyalas offers S$2.36 per share for BMT as Spinola family exits

Singapore

CONTROL of British and Mala-yan Trustees (BMT) has passed from one group of old-money investors to another.

Nyalas Rubber Estates is offering to buy all the remaining shares of BMT for S$2.36 per share after becoming the majority stakeholder in the trustee services company.

Nyalas, a palm oil producer and investment vehicle controlled by the Lee family that also holds stakes in Malaysia-listed Kuchai Development and Kluang Rubber, is making the offer through special purpose vehicle Emerald…