Cement Industries of Malaysia Bhd (CIMA) said it is still in discussions with France’s Vicat over the sale of shares in its units and no agreement has been concluded.
Responding to a query from Bursa Malaysia, the company said both parties have agreed that Vicat’s offer will remain valid until Dec 15.
CIMA ’will make the announcement to Bursa....should there be any further developments on this matter,’ it added.
The Star newspaper earlier reported that CIMA and Vicat have agreed to set up a 51-49 joint venture company into which CIMA’s units will be injected.
The deal values CIMA’s units at 300 mln usd, the newspaper said.