KUALA LUMPUR: Lion Industries Corporation Bhd (LICB) said the "final adjusted consideration” from the disposal of its unit Antara Steel Mills Sdn Bhd had increased by RM26.15 million to RM697.74 million (US$165.63 million).
KUALA LUMPUR: Lion Industries Corporation Bhd’s (LICB) Amsteel Mills Sdn Bhd is selling its 100% stake in in Antara Steel Mills Sdn Bhd to Singapore’s Esteel Enterprise Pte Ltd for US$122mil or RM509.96mil.
Lion Industries Corp Bhd’s 99%-owned subsidiary Amsteel Mills Sdn Bhd is selling the latter’s 100% stake in Antara Steel Mills Sdn Bhd to Esteel Enterprise Pte Ltd for approximately US$158.82 million (about RM663.85 million) under an all-cash deal that will enable Lion Industries to unlock the value of Antara Steel for a disposal gain of around RM403.1 million and finance Lion Industries’ planned expansion into the flat steel business.