Sime unit plans to acquire Aussie firm Onsite Rental for RM1.9bil

Sime Darby said the acquisition offers greater access to the construction, energy and mining industries growth in Australia. — Reuters

PETALING JAYA: Sime Darby Bhd’s indirect wholly-owned subsidiary, Sime Darby Allied Operations Pty Ltd, has proposed to acquire Australia-based Onsite Rental Group Ltd for A$635mil (RM1.92bil).

In a filing with Bursa Malaysia, the conglomerate said the price, which will be financed entirely through external borrowings, was agreed on a cash-free and debt-free basis.