YTL Corp said the acquisition facilitates the expansion of YTL Cement’s environmental services business into Singapore.
KUALA LUMPUR: YTL Corp Bhd
’s subsidiary YTL Cement Bhd has entered into a conditional sale and purchase agreement (SPA) with 98 Holdings Pte Ltd for the proposed acquisition of shares in NSL Ltd for S$227.61mil (about RM792.32mil) in cash.
In a filing with Bursa Malaysia, YTL Corp said the SPA involved the proposed acquisition of 303.48 million shares in NSL, representing about 81.24% equity interest.
“The acquisition provides a unique opportunity for YTL Corp’s expansion via YTL Cement and its subsidiaries into the industrialised building system sector in Malaysia, Dubai, Finland and Singapore.
“It also facilitates the expansion of YTL Cement’s environmental services business into Singapore through NSL’s environmental service business in the republic with synergistic advantages,” it said. — Bernama
