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Hong Leong Industries Berhad Announces Proposed Disposal Of MZ Motorrad- Und Zweiradwerk GmbH

Thursday, 31 Jan 2013 05:49am EST 

Hong Leong Industries Berhad announced that the Company had, on 26 January 2013, entered into a Share Sale Agreement (Share Sale Agreement) with Mr. Che Mingde (Purchaser) to dispose of its entire equity interest in MZ Motorrad- und Zweiradwerk GmbH (MZG), a wholly-owned subsidiary of the Company, to the Purchaser for cash consideration of EUR1.00 (Proposed Disposal). The sale consideration of EUR1.00 was arrived at on a willing buyer willing seller basis after taking into consideration the net realisable assets value of MZG. 

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