KNM's sub-subsidiary to dispose of entire stake in FBM Hudson Italiana for RM84.77mil

KUALA LUMPUR: KNM Group Bhd’s wholly-owned indirect subsidiary KNM Europa BV planned to dispose of its entire stake in FBM Hudson Italiana SpA (FBMHI) for 16.5 million euros (RM84.77 million).

In a filing with Bursa Malaysia today, KNM said KNM Europa has entered into a conditional share purchase agreement with BM Carpenterie Oil and Gas SrL to dispose of its 60 per cent share capital in FBMHI for 9.90 million euros, while its 40 per cent share capital of FBMHI will be sold to Officine Piccoli SpA for 6.6 million euros.