Posted in | Business

MMC to Divest Interest in MMC Metal Industries

MMC wishes to announce that, MMC Engineering Group Berhad, a subsidiary of MMC Corporation Berhad (“MMC”), has on 21 November 2007 entered into a conditional Share Sale Agreement (“SSA”) with Contrarian Holdings Sdn Bhd (“Purchaser”) to dispose its entire interest in MMC Metal Industries Sdn Bhd (“MMC Metal” or “Company”) comprising 7,369,025 ordinary shares of RM1.00 each (“Sale Shares”), representing a 75.8 % stake in MMC Metal, for a cash consideration of RM5.5 million. The sale consideration for the Proposed Disposal was arrived at on a willing-buyer willing-seller basis.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback