PETALING JAYA: Pansar Bhd
has proposed to acquire a construction and civil engineering company for a purchase consideration of RM151mil to diversify its business.
The engineering solutions provider said yesterday it had entered into a conditional share purchase agreement with PE Holdings Sdn Bhd to acquire a 100% stake in Perbena Emas Sdn Bhd, which has civil works, building works and infrastructure projects in Sarawak.
“The company has an existing secured order book of approximately RM645mil and is in advanced stages of tendering for more than RM2bil worth of new projects, ” Pansar said in a statement. The acquisition was in line with the proposed diversification of its principal activities to include construction and civil engineering.
In addition, Pansar had proposed to undertake a renounceable rights issue of redeemable convertible preference shares (RCPS) to raise at least RM120mil to part-fund the acquisition. Each RCPS would carry a dividend rate of 4% per annum based on the indicative issue price of 53 sen during the tenure of the RCPS.
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