KUB Malaysia to acquire remaining 40% stake in KUB Sepadu

KUALA LUMPUR: KUB Agro Holdings Sdn Bhd (KUBAH), a wholly-owned subsidiary of KUB Malaysia Bhd, is acquiring the 40 per cent equity interest of KUB Sepadu Sdn Bhd (KUBS) not in its control from Medan Sepadu Sdn Bhd (MSSB) and Lembaga Amanah Kebajikan Kaum Melanau Sarawak (Lembaga Amanah) for RM60 million.

In a filing with Bursa Malaysia, KUB Malaysia said that KUBAH will acquire 2.6 million ordinary shares comprising 1.95 million shares, or 30 per cent interest, from MSSB and the remaining 650,000 shares from Lembaga Amanah.