IPOH: Perak Corp Bhd
has received approval from its shareholders to sell the entire 15.74% stake in Integrax Bhd to Tenaga Nasional Bhd (TNB) for RM3.25 a share.
The vote by shareholders means that Perak Corp would receive cash of about RM153mil, which it would use to pare down debts and fund its current projects. TNB would see its stake in Integrax rise to 44%, which is 6% shy of TNB’s takeover offer becoming unconditional.
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