Gamuda to acquire 30% stake in ERS Energy for RM200mil

KUALA LUMPUR: Gamuda Bhd has executed a subscription and shareholders agreement to acquire 30% equity interest in ERS Energy Sdn Bhd via a subscription of 4.29 million new shares for a consideration of RM200mil cash.

In a statement, the construction group said ERS Energy is a leading solar energy engineering procurement construction and commissioning (EPCC) company and one of the early entrants to the Malaysian solar scene.