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Corporate News

Amsteel selling Antara Steel Mills to Singapore’s Esteel Enterprise for RM509m

By Joseph Chin

KUALA LUMPUR: Lion Industries Corporation Bhd’s (LICB) Amsteel Mills Sdn Bhd is selling its 100% stake in in Antara Steel Mills Sdn Bhd to Singapore’s Esteel Enterprise Pte Ltd for US$122mil or RM509.96mil.

In a filing with Bursa Malaysia on Tuesday it said its 99% owned Amsteel was selling its entire 218 million shares and 30 million redeemable preference shares in Antara.

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Lion Industries Corporation , Amsteel Mills , Antara Steel Mills , Esteel Enterprise

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