KUALA LUMPUR: Xelmont Ltd, an indirect wholly-owned subsidiary of Mudajaya Group Bhd
, has entered into a share sale and purchase agreement with Minyi Holdings Ltd (MHL) to acquire the entire equity interest in Real Jade Ltd for RM224.32 million to be fully satisfied by cash.
In a filing with Bursa Malaysia today, Mudajaya said the proposed acquisition entails Xelmont taking 100 per cent equity interest in Real Jade, a holding company with subsidiaries principally engaged in the manufacturing and sales of cement and clinker, and cement trading in China.
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