"As a partner of choice to some of the most admired brands in the automotive sector, we are very excited to have the opportunity to work with Toyota, one of the world's largest and most respected automakers," he said in a statement. He added that the acquisition is accretive to Sime Darby's earnings per share and will enhance Sime Darby's shareholders return. Sime Darby expects the acquisition of PNB's stake to be completed within three months from the date of sales and purchase agreement subject to regulatory and shareholders' approvals and customary closing conditions. With the purchase of UMW, Sime Darby gains a 38% stake in Perodua and 51% equity interest in UMW Toyota Motor Sdn Bhd. State investment firm PNB continues to hold a 10% stake in the national marquee via PNB Equity Resources Corp Sdn Bhd (PERC). It is also the largest shareholder in Sime Darby with a 41.56% stake.