SIG Gases Berhad signed a heads of agreement to acquire SSB Cryogenic Equipment Pte Ltd from Peh Lam Hoh, NeltyAgustina Susanto, Yue Thye Chun, Lee Soon Thiam, Leong Chin Yew and Ler Zhi Kang for approximately MYR 130 million.
The transaction is subject to consummation of due diligence investigation, approval of Securities Commission, approval of Bursa Malaysia Securities Berhad for the listing of consideration shares, approval of shareholders of SIG, completion of acquisition of Sing Swee Bee Enterprise and financial audit of target. The acquisition is expected to contribute positively to SIG in the future. SIG Gases will appoint an independent adviser for the transaction.