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.
PETALING JAYA: 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 �220.8mil (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.
Join our Telegram channel to get our Evening Alerts and breaking news highlights
