KUALA LUMPUR: KNM Group Bhd
's subsidiary Deutsche KNM GmbH (DKNM) has entered into an agreement with GPR Siebzigste Verwaltungsgesellschaft mbH (GSV) for the proposed disposal of 100% equity interest in Borsig GmbH for a consideration of EUR220.8mil (RM1.03bil).
The sale comes as no surprise as the cash-strapped group has been working towards the monetisation of Borsig, which will go towards addressing its financial constraints.
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