PETALING JAYA: KNM Group Bhd
has secured a deal to sell its crown jewel, German-based process equipment maker Borsig GmbH, to Japan’s NGK Insulators Ltd for 270mil (RM1.25bil) higher than the 220.8mil (RM1.03bil) valuation it fetched in 2022.
KNM said in a filing with Bursa Malaysia that its wholly owned subsidiary KNM Process Systems Sdn Bhd (KNMPS) had entered into a conditional sale, purchase and transfer agreement with NGK to dispose of its 100% equity interest in Deutsche KNM GmbH (DKNM), the investment holding company for Borsig.
