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Primus investors vote for Eon takeover

Primus Pacific Partners, a Hong Kong-based private equity firm, was dealt a blow yesterday when shareholders voted for a takeover of its portfolio company, Eon Capital, that the buyout house has argued is grossly undervalued. Primus is suing the directors of Eon Capital in Kuala Lumpur in an attempt to block the takeover. Primus bought 20.2 per cent of Eon in 2008 for 9.55 ringgit (HK$23.97) a share. Hong Leong Bank's offer valued the bank at 7.30 ringgit a share. The court case began on September 20.

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