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YTL Cement KUALA LUMPUR: YTL Cement Bhd will dispose of its entire cement and ready-mixed concrete operations in Malaysia to its subsidiary Malayan Cement Bhd for a total consideration of RM5.158bil under an asset rationalisation and optimisation plan. Under the agreement, Malayan Cement will acquire 12 companies involved in cement and ready-mixed concrete businesses, as well as YTL Cement’s marketing and plant management activities. The RM5.158bil deal, which is subject to adjustments at point of completion, will be settled via RM2bil in cash, RM1.408bil through the issuance of 375.5 million new ordinary shares in Malayan Cement and RM1.75bil through the issue of 466.7 million new irredeemable convertible preference shares (ICPS) in Malayan Cement. ....
YTL Cement (YTL Corp) has signed an agreement to sell its entire cement and RMC operations in Malaysia to its 76.98 per cent subsidiary Malayan Cement . ....
Malayan Cement Bhd (MCB) is buying YTL Cement Bhd's entire entire cement and ready-mixed concrete operations in Malaysia for RM5.16bil in cash, new shares and preference shares. ....
KUALA LUMPUR (May 12): YTL Cement Bhd, a subsidiary of YTL Corp Bhd, today inked an agreement to sell its entire cement and ready-mixed concrete operations in Malaysia to its 76.98%-owned subsidiary Malayan Cement Bhd, for RM5.16 billion in a cash and stock deal. Under the agreement, Malayan Cement will acquire 12 companies under YTL Cement. All of these companies have an established track record of operational profit, YTL Cement said in a statement. Of the total consideration, which YTL Cement said is still subject to adjustments at the point of completion, RM2 billion will be settled in cash. Malayan Cement will then issue 375.5 million new shares to YTL Cement to satisfy RM1.41 billion, and issue 466.7 million new irredeemable convertible preference shares (ICPS) for the remaining RM1.75 billion. ....
Malayan Cement to raise US$55.0m through share placement Written by Global Cement staff 16 April 2021 Malaysia: Malayan Cement is expected to raise US$55.0m through a proposed placement of 10% of its shares. Bernama Daily Malaysian News has reported that the company plans to use US$13.1m as working capital. The remainder will repay its bank debts. ....