KNM in talks again for sale of Italian asset

PETALING JAYA: KNM Group Bhd says it has received “offers of purchase” for its Italian heat exchanger manufacturing asset, after the Italian government rejected its earlier effort to dispose of the loss-making unit.

KNM, a Practice Note 17 company, told shareholders yesterday that the share purchase agreement to sell FBM Hudson Italiana S.p.A. to BM Carpenterie Oil & Gas S.r.l. and Officine Piccoli S.p.A. expired on June 30.