Rahmat Lim & Partners advised Malayan Cement Berhad on the acquisition.
Malayan Cement Berhad (KLSE:MCEMENT) entered into an agreement with its parent company YTL Cement Berhad, a subsidiary of YTL Corporation Berhad, for the purchase of its entire cement and ready-mixed concrete operations in Malaysia for a total consideration of RM5.158 billion.
Under the agreement, MCB will acquire 12 companies involved in cement and ready-mixed concrete businesses, as well as marketing and plant management activities. All of these companies have an established track record of operational profit.
List of companies to be acquired by MCB includes Cement Perak-Hanjoong Simen Sdn Bhd, Pahang Cement Sdn Bhd, Straits Cement Sdn Bhd, Slag Cement Sdn Bhd, Slag Cement (Southern) Sdn Bhd Ready-mixed concrete Buildcon Concrete Sdn Bhd, Buildcon-Cimaco Concrete Sdn Bhd, CI Readymix Sdn Bhd, Mini-Mix Sdn Bhd, SMC Mix Sdn Bhd.
The proposed transaction is subject to approval by the shareholders of MCB to be obtained at an extraordinary general meeting to be convened.
YTL Cement is a leading regional building materials group in Asia contributing to constructing homes, buildings and infrastructure for more than 60 years.
MCB (formerly known as Lafarge Malaysia Bhd) is a construction materials manufacturer in Malaysia.
The Rahmat Lim & Partners’ team was led by Partner Chen Lee Won (Picture).
Involved fees earner: Chen Lee Won – Rahmat Lim & Partners;
Law Firms: Rahmat Lim & Partners;
Clients: Malayan Cement Bhd;