KUALA LUMPUR, Nov 5 (Bernama) — Malaysia’s largest carbon steel fastener manufacturer, Chin Well Holdings Bhd, will acquire Asia Angel Holdings Limited for RM47.5 million from two individuals.
The vendors are Taiwanese Chen Yin-Liang and Malaysian Chua Wei Feng.
The purchase consideration will also assume the net advances from Asia Angel’s vendors of RM44.5 million, to be paid in three installments over a two-year period.
In a statement here today, it said the funding of the acquisition would be satisfied by the issuance of 27 million new Chin Well shares at RM1.45 per share and cash payment of RM8.3 million.(…)
via BERNAMA – Chin Well To Acquire Asia Angel For RM47.5 Million.