Lion Forest to buy Silverstone

  • Business Premium
  • Tuesday, 01 Feb 2005

Pulp and paper producer Lion Forest Industries Bhd (LionFIB) has proposed to acquire Silverstone Bhd, which manufactures tyres. Both LionFIB and Silverstone are members of the Lion group. 

LionFIB said in a statement to Bursa Malaysia yesterday that its wholly-owned subsidiary, Quay Class Ltd, had entered into an agreement with Silverstone Corp Bhd to acquire the entire equity in Silverstone Bhd for a total of RM225mil, to be paid for through a combination of cash and new LionFIB shares. 

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