Lion Industries gets higher amount of RM697.74mil from disposal of Antara Steel

KUALA LUMPUR: Lion Industries Corporation Bhd (LICB) said the "final adjusted consideration” from the disposal of its unit Antara Steel Mills Sdn Bhd had increased by RM26.15 million to RM697.74 million (US$165.63 million).

Total proceeds had increased due to the different exchange rate used and the date adopted for the closing of Antara’s account, it said in a stock exchange filing to Bursa Malaysia today.