Lion Industries unit to dispose of Eden Flame for RM135.88mil

KUALA LUMPUR: Lion Industries Corp Bhd (LICB) has proposed to dispose of its entire 100% equity stake in Eden Flame Sdn Bhd for RM135.88mil.

In a filing with Bursa Malaysia, LICB said its 99%-owned subsidiary, Amsteel Mills Sdn Bhd (AMSB) had entered into a conditional sale and purchase agreement with Esteel Enterprise Pte Ltd for the proposed disposal of Eden Flame for an adjusted consideration of RM135.88mil based on Eden Flame’s proforma management accounts as at Nov 30, 2021.