PNB sells CCM stake for nearly RM300mil. [Newspaper] (2020)
Abstract
KUALA LUMPUR: Permodalan Nasional Bhd (PNB) has reached an agreement with Batu Kawan Bhd to sell its 56.3 per cent stake in Chemical Company of Malaysia Bhd (CCM) for RM292.8 million. PNB president and chief executive officer Ahmad Zulqarnain Onn said the divestment was part of the fund's asset diversification strategy to rebalance the portfolio and was consistent with its efforts to continuously enhance value and deliver sustainable returns to its unit holders. "A robust sale and price discovery process was conducted by our adviser Maybank Investment Bank Bhd and we are pleased that the final sale price represents a significant premium to the market price," said Zulqarnain.
| Item Type: | Newspaper |
|---|---|
| Keywords: | Chemicals manufacturing, Chlor-alkali, Chemical Company of Malaysia Bhd |
| Taxonomy: | By Subject > Applied Sciences > Chemistry By Subject > Applied Sciences > Industrial Technology |
| Local Content Hub: | Subjects > Applied Sciences |
| Depositing User: | Jamil Jawi |
| Date Deposited: | 02 Feb 2021 03:28 |
| Last Modified: | 02 Feb 2021 03:28 |
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