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AVENUE BUYS ECM LIBRA'S SUBSIDIARIES FOR RM293 MLN.
(From Bernama The Malaysian National News Agency)
from BERNAMA, The Malaysian National News Agency KUALA LUMPUR, Jan (Bernama) -- Avenue Capital Resources Berhad and Avenue International Capital Berhad today signed a conditional share sale agreement amounting to RM293 million with ECM Libra Bhd to fully acquire the latter's operating subsidiaries by issuing 442.0 million fully paid-up new ordinary shares of RM1.00 each in AICB
The share price was arrived at after considering the following: * the closing market price of ACRB on Jan 16, 2006; * the value of Pos Malaysia Bhd's shares to be distributed to shareholders of AICB pursuant to a proposed …
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