Bursa
PETALING JAYA: KNM Group Bhd
’s indirect wholly owned subsidiaries, BORSIG GmbH and BORSIG ZM Compression GmbH (BZM), have on Aug 27 entered into a sale and purchase agreement with BORSIG ZM Schweiz AG and Iskra-Neftegaz Compressor LLC for the disposal of the entire equity interest comprising one share of 24,000 euro and one share of 1,000 euro held in BZM for 28mil (RM130.76mil).
The proposed disposal will result in an estimated gain of 4.01mil (RM18.73mil) to KNM based on the consolidated audited statement of its financial position as at Dec 31,2018.
In a filing with Bursa Malaysia, KNM said that upon the completion of the proposed disposal, BZM would cease to be a subsidiary of BORSIG and an indirect wholly owned subsidiary of KNM.
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