PETALING JAYA: Boustead Heavy Industries Corp
Bhd (BHIC) is disposing of 2.55 million shares (or a 51% stake) in Contraves Advanced Devices Sdn Bhd (CAD) to Germany-based Rheinmetall AG for RM54mil.
In a filing with Bursa Malaysia, BHIC said the stake disposal provides an opportunity for the company to fully exit and monetise its investment in CAD, which is involved in the manufacturing of industrial printed circuit board assemblies.
