KUALA LUMPUR: Hong Leong Industries Bhd
(HLI) is selling its 100% stake in Hume Industries (Malaysia) Sdn Bhd for RM48mil and preference shares in Hume Cement Sdn Bhd for RM300mil to Narra Industries Bhd.
The corporate exercise of both companies, which are under the Hong Leong group, would see the disposals of the 300 million Hume Industries shares and entire 175,000,000 six-year 2% non-cumulative irredeemable convertible preference shares of RM1 each in Hume Cement, in exchange for new Narra Industries shares.
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