Techbond to buy 99.57% of Malayan Adhesives and Chemicals forRM57mil

KUALA LUMPUR: Techbond Group Bhd has entered into a conditional share sale agreement with Chemquest Sdn Bhd to acquire 13.94 million ordinary shares, representing 99.57 per cent equity interest in Malayan Adhesives and Chemicals Sdn Bhd (MAC) for RM57.0 million cash.

In a filing with Bursa Malaysia today, Techbond said it also intended to make several offers to acquire the remaining 0.43 per cent equity interest in MAC which is held by minority shareholders at about RM4.089 per share.