KNM Group Berhad (KLSE:KNM) has announced that it is currently evaluating new purchase offers from potential buyers for its subsidiary, FBM Hudson Italiana SpA. In a statement to the stock exchange on 03 July 2024, KNM stated, "The company has received new purchase offers from other parties and is currently assessing its options. Further updates on the proposed disposal will follow in due course." This development follows KNM Europa BV's previous attempt to sell its entire 100% equity interest in FBM Hudson Italiana, as per a share purchase agreement (SPA) that expired on June 30, 2024.

KNM Group has encountered regulatory hurdles from the Italian government, which twice blocked previous attempts to finalize the sale of FBM Hudson Italiana. The Italian government invoked its golden power rights, allowing intervention in transactions involving strategic assets related to defense, national security, and critical infrastructure. In March 2024, KNM Europa BV sought to sell FBM Hudson Italiana to BM Carpenterie Oil & Gas Srl.

and Officine Piccoli SpA. for approximately MYR 84 million. However, the transaction faced obstacles due to the failure to secure necessary regulatory clearance under Italy's stringent framework.

The disposal of FBM Hudson Italiana forms part of KNM's strategic efforts to restructure and bolster its financial standing amid ongoing losses in its European operations.