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NewsInternal deal by Boustead
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Internal deal by Boustead
by hlk Thu 29 Dec 2011, 18:41
PETALING JAYA: Boustead Holdings Bhd’s wholly-owned unit Boustead Building Materials Sdn Bhd has completed the acquisition of 8.86 million shares, representing a 70% stake, in Boustead Sissons Paints Sdn Bhd from Boustead Holdings for RM10.5mil.
It
has also completed the acquisition of 3.8 million Boustead Sissons
shares, representing a 30% stake, from Lembaga Tabung Angkatan Tentera
for RM4.5mil.
The total consideration was arrived at after taking
into consideration the audited consolidated net assets of Boustead
Sissons as at Dec 31, 2010 of RM12mil and potential earnings of the
company.
It
has also completed the acquisition of 3.8 million Boustead Sissons
shares, representing a 30% stake, from Lembaga Tabung Angkatan Tentera
for RM4.5mil.
The total consideration was arrived at after taking
into consideration the audited consolidated net assets of Boustead
Sissons as at Dec 31, 2010 of RM12mil and potential earnings of the
company.
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