ILB Group to purchase solar assets totalling RM98mil

PETALING JAYA: IL Energy Sdn Bhd (ILE), a wholly-owned subsidiary of ILB Group Bhd, has agreed to purchase all of Armani Sinar Sdn Bhd and the solar assets of Armani Energy Sdn Bhd, for a combined total consideration of RM98mil.

The agreement with Armani Sinar, worth RM30mil to buy one million ordinary shares, was made between ILE and Andy Woo Weng Kok, while the second deal was for the acquisition of a solar photovoltaic energy generating system for a sum of RM68mil.