PNB sells 56.3% stake in CCM to Batu Kawan

PNB and AmanahRaya Trustees Bhd – the trustee for Amanah Saham Malaysia, Amanah Saham Bumiputera and Amanah Saham Bumiputera 3-Didik unit trust funds – yesterday inked a conditional agreement with Batu Kawan to sell 94.45 million shares in CCM at RM3.10 apiece.

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) and its unit trust funds are selling their combined 56.32% stake in Chemical Co of Malaysia Bhd (CCM) to plantation and industrial chemicals group Batu Kawan Bhd for RM292.79mil.

PNB and AmanahRaya Trustees Bhd – the trustee for Amanah Saham Malaysia, Amanah Saham Bumiputera and Amanah Saham Bumiputera 3-Didik unit trust funds – yesterday inked a conditional agreement with Batu Kawan to sell 94.45 million shares in CCM at RM3.10 apiece.