Malakoff shares down on Alam Flora bid

Pricey deal: Malakoff’s unit had entered into a conditional share sale agreement to acquire a 97.37 stake in the waste management company from Hicom Holdings.

PETALING JAYA: The share price of Malakoff Corp Bhd fell after the announcement that it would acquire Alam Flora Sdn Bhd for RM944.61mil cash from sister company DRB-Hicom Bhd.

Malakoff slid eight sen or 8.17% to close at RM0.95.