MISC has entered into a purchase agreement with Dialog Group to sell its 45% stake in Centralised Terminals (CTSB).
The total proceeds from the divestment is RM193 million comprising the purchase consideration for MISC's shares and repayment of shareholder's advances and accrued interest by Dialog on behalf of CTSB.
The completion of this transaction markets MISC's exit from the tank terminal business.
Yee Yang Chien, president and group CEO, says: 'For MISC, this divestment will enable us to unlock the value of our investment in CTSB and take advantage of other opportunities within the energy and maritime industry.'
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