CMS selling stakes in units for RM531mil

In a filing with Bursa Malaysia, CMS said the net disposal consideration was arrived at on a “willing-buyer willing-seller” basis.

PETALING JAYA: Cahya Mata Sarawak Bhd (CMS), via its wholly-owned subsidiary Samalaju Industries Sdn Bhd, has entered into a conditional share sale agreement (SSA) with OM Materials (S) Pte Ltd.

The SSA is for the proposed disposals of CMS’ entire 25% equity interests in OM Materials (Sarawak) Sdn Bhd (OM Sarawak) and OM Materials (Samalaju) Sdn Bhd (OM Samalaju) for a total cash consideration of US$120mil (RM530.65mil).