Astramina to acquire Epic Chemicals

PETALING JAYA: Astramina Group Bhd (Astra) has entered into a binding term sheet with Chan Kok Woei and Tan Soon Hock to “exclusively explore and negotiate further” to acquire Epic Chemicals Sdn Bhd.

In a filing with Bursa Malaysia yesterday, Astra said the purchase consideration will be satisfied via a combination of cash and the issuance of new ordinary shares in Astra at 37 sen per share.

Chan and Tan are the existing directors and shareholders of Epic Chemicals, which is principally involved in the trading in all types of chemical and food products and ingredients.