Press Metal unit to acquire HK firm stake

The exercise is for a share swap of 25.59% interest in Nanshan Aluminium International Holdings Ltd.

KUALA LUMPUR: Press Metal Aluminium Holdings Bhd has proposed to sell 25% or 3.86 million of its shares in PT Bintan Alumina Indonesiato Hong Kong Prime Aluminium Investment Limited (HK PAI) for US$329.80mil (RM1.55bil).

HK PAI is wholly owned by Nanshan Aluminium International Holdings Ltd (NAIHL).