Lion Industries selling Antara stake for RM510mil

The proceeds of the stake sale of Antara, which is held through its 99%-owned subsidiary Amsteel Mills Sdn Bhd (AMSB)(pic), will go towards a proposed expansion into the flat steel business.

PETALING JAYA: Lion Industries Corp Bhd (LICB) has proposed to sell its entire 100% stake in Antara Steel Mills Sdn Bhd to Singapore-based Esteel Enterprise Pte Ltd for US$122mil (RM510mil).

The proceeds of the stake sale of Antara, which is held through its 99%-owned subsidiary Amsteel Mills Sdn Bhd (AMSB), will go towards a proposed expansion into the flat steel business.