You are here: Home > Steel News > Latest Steel News > Singapore’s...

Singapore’s Green Esteel to acquire controlling stake in Malaysia’s Southern Steel

Wednesday, 30 October 2024 14:46:18 (GMT+3)   |   Istanbul
       

Singapore-based steel producer Green Esteel will buy a 50.1 percent stake in Malaysia-based Southern Steel for MYR 315.9 million ($72.13 million), according to a statement by Southern Steel. If the transaction is approved, Southern Steel will become a subsidiary of Green Esteel.

In addition, Southern Steel plans to offer a 10.18 percent stake to investors to meet public shareholding requirements as Green Esteel becomes a major shareholder.

Southern Steel has a total annual production capacity of 150,000 mt at its mesh manufacturing plants located in Klang and Prai in Malaysia.


Similar articles

Singapore’s Esteel continues to expand presence in Malaysia with controlling stake in Southern Steel

13 Sep | Steel News

Daehan Steel to purchase Angkasa Amsteel

09 Jan | Steel News

Singapore’s Esteel continues to expand presence in Malaysia with controlling stake in Southern Steel

13 Sep | Steel News

Daehan Steel to purchase Angkasa Amsteel

09 Jan | Steel News