KUALA LUMPUR: London Biscuits Bhd (LBB) is disposing of RM70mil worth of assets to Pacific Petcare Sdn Bhd as part of the company’s liquidation and to generate cash for the ultimate distribution to its creditors.
LBB said it has entered into an asset sale agreement with Pacific Petcare and Mamee-Double Decker (M) Sdn Bhd (as guarantor) for the purposes.
The assets to be disposed of included seven parcels of freehold industrial land in Plentong, Johor Baru, together with buildings thereon, plant and machinery located within the premises. — Bernama
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