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AMCOR TO BUY K LASER CHINA FOR ABOUT US$10 MLN.
MELBOURNE, July 3 Asia Pulse - Global packaging maker Amcor Ltd (ASX:AMC) has agreed to acquire a 16.67 per cent cornerstone stake in K Laser China for about $US10 million ($A13.49 million).
Amcor has options to lift its shareholding in K Laser China to 50.1 per cent in two years.
It also acquired a 4.2 per cent stake in the parent company, K Laser Technology, for $US3.5 million ($A4.72 million) and may invest another $US8.2 million ($A11.06 million) upon the exercise of Amcor's options in K Laser China.
K Laser produces holographic films used on tobacco packaging in the Chinese market, and on other packaging.
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Source: HighBeam Research, AMCOR TO BUY K LASER CHINA FOR ABOUT US$10 MLN.