新闻
TEE: To Focus On Engineering With Sale Of TEE Land To Amcorp Group.
14 Jan 2020 11:07Malaysian conglomerate Amcorp Group has made a pre-conditional mandatory cash offer for TEE Land, following the signing of conditional sale and purchase agreements to acquire TEE Land shares from TEE International and Mr. Phua Chian Kin. Subject to fulfilment or waiver of the conditions in the conditional sale and purchase agreements, Amcorp Group will become the majority shareholder of TEE Land and will make a mandatory unconditional cash offer for the remaining TEE Land shares but currently intends to maintain the listing status of TEE Land. TEE International plans to use the sale proceeds to reduce gearing, improve working capital and/or explore investments to enhance shareholder value...
More information available here.
Source: ShareInvestor Express
