ENRA’S UNIT BUYS AUSSIE SPE­CIALTY CHEM­I­CALS FIRM

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Enra Group Bhd’s in­di­rectly owned sub­sidiary Enra Kimia (Aus­tralia) Pty Ltd is ac­quir­ing the en­tire stake in spe­cialty chem­i­cals im­porter and distrib­u­tor In­ter­na­tional Chem­i­cals En­gi­neer­ing Pty Ltd (ICE), which op­er­ates in New Zealand and Aus­tralia, for a cash con­sid­er­a­tion of up to a$2.9 mil­lion (RM8.7 mil­lion). Enra will also as­sume ICE’s ex­ist­ing share­hold­ers’ loans of A$1.6 mil­lion. The pur­chase will be fi­nanced with in­ter­nally gen­er­ated funds.

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