Friday, June 11, 2010

Boustead acquires Pharmaniaga for RM534mil cash

KUALA LUMPUR: Boustead Holdings Bhd has proposed to acquire Pharmaniaga Bhd from UEM Group Bhd for RM534mil cash.

Deputy chairman and group managing director, Tan Sri Lodin Wok Kamaruddin said the proposed acquisition involved acquiring 86.81% of the issued and paid-up share capital of Pharmaniaga.

"Boustead Holdings will utilise internally generated funds and bank borrowing for the proposed acquisition," Lodin Wok told reporters after the signing of a Sales and Purchase Agreement (SPA) between Boustead Holdings and UEM Group here Friday

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