ECM Libra to acquire entire stake in Desaru Beachfront 2 for RM17mil

KUALA LUMPUR: ECM Libra Group Bhd (ECMLG) has proposed to acquire the entire equity interest in Desaru Beachfront 2 Sdn Bhd (DB2SB) for RM17.05mil cash.

ECMLG’s indirect wholly owned subsidiary, ECM Libra Desaru Sdn Bhd entered into a conditional share sale agreement (SSA) with Desaru Development Holdings One Sdn Bhd for the proposed acquisition of two ordinary shares and 1.19 million redeemable convertible preference shares, representing 100% equity interest in DB2SB.