Minetech Resources gets RM15m offer from Asphalt Man

KUALA LUMPUR: Asphalt Man International Co., Ltd has made a RM15mil offer to buy Minetech Resources Bhd's asphalt unit.

Minetech said on Monday it had received a letter of offer from Asphalt Man to buy the entire 4.80 million shares of its unit Minetech Asphalt Man International Sdn Bhd (formerly Minetech Korea Petroleum Industrial Sdn Bhd). Minetech Asphalt’s core products are oxidised bitumen.

“The offer period for this letter of offer is two weeks from the date hereof and there is no conditions attached in the said letter of offer,” it said.
 
Minetech said it would negotiate and liaise with Asphalt Man on the terms of the transaction and provide the details in due course.