Cahya Mata Sarawak to sell stakes in two companies for US$120mil

KUALA LUMPUR: Cahya Mata Sarawak Bhd (CMSB) has proposed to dispose off the group’s entire 25 per cent interest in ferrosilicon and manganese alloy smelter OM Materials (Sarawak) Sdn Bhd and project management service provider OM Materials (Samalaju) Sdn Bhd for US$120 million (US$1=RM4.42).

The infrastructure facilitator said its wholly-owned subsidiary Samalaju Industries Sdn Bhd had inked a conditional agreement to sell the stakes to OM Materials (S) Pte Ltd, which owns the remaining 75 per cent of the two companies.