Mestron acquires 10% stake in Winstar Aluminium for RM6mil

Mestron managing director Por Teong Eng

KUALA LUMPUR: Mestron Holdings Bhd (MHB) has entered into a share sale and purchase agreement (SSPA) with Chua Nyok Chong (CNC) and Chua Boon Hong (CBH) to acquire 806,000 ordinary shares or 10% of the share capital of Winstar Aluminium Manufacturing Sdn Bhd (WAMSB) for RM6mil.

A filing with Bursa Malaysia showed that CNC also granted MHB a call option to acquire another 20.0% of WAMSB in two tranches within 365 days from and including the date of the SSPA for a total sum of RM12mil.