KUALA LUMPUR: Southern Steel Bhd
has signed a heads of agreement (HOA) with Ann Joo Resources Bhd to explore the proposed acquisition of 100% equity interest in Ann Joo Steel Bhd (AJSB).
In a filing with Bursa Malaysia, the steel manufacturer said the proposed acquisition involves 612.99 million ordinary shares in AJSB, representing its entire issued share capital, subject to the terms and conditions of a definitive share purchase agreement (SPA) to be agreed.
