Saturday, March 26, 2011

PACIFIC INUSURANCE BHD SOLD

PACIFICMAS Bhd has announced that the final consideration for the proposed disposal of a 100 per cent equity interest in its wholly-owned Pacific Insurance Bhd to Fairfax Asia Ltd had been agreed at RM216.484 million.

In a filing to Bursa Malaysia, it said that the price, from an earlier proposed RM201 million, had been agreed to by the parties in the Shares Sale Agreement and Variation Letter.

PacificMas said the balance disposal consideration of RM196.484 million has been received by the company and as such, the proposed disposal was completed today. -

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