IJM Corp proposes to buy Silk Highway for RM398mil

Analysts also described the price of RM398mil that IJM would be paying for Silk, if the deal went through, as

PETALING JAYA: IJM Corp Bhd’s wholly-owned subsidiary, Road Builder (M) Holdings Bhd, has entered into a heads of agreement with Silk Holdings Bhd to acquire all the 220 million shares of RM1 each in Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd (Silk) for RM398mil cash.

Silk Holdings said in a statement that the closing of the transaction was subject to the execution of a mutually satisfactory definitive share sale agreement, which is anticipated to take place within 14 days of the signing of this agreement.