PETALING JAYA: The Securities Commission (SC) has approved ECM Libra Financial Group Bhd ’s proposal to dispose of its entire 100% equity interest in Libra Invest Bhd.

According to a statement to Bursa Malaysia, the deal which would see it selling this stake for a provisional cash consideration of RM50.07mil had been approved on condition that the proposed change of shareholder will not adversely affect the soundness of Libra Invest’s business.