KNM Terminates Proposed Sale of FBM Hudson Italiana; Shares Plunge 17%

MT Newswires Live

09/18

KNM Group (KLSE:KNM) said it terminated the proposed disposal of FBM Hudson Italiana, after Terragarda GmbH revoked its joint offer.

Shares dived about 17% in Thursday's midday trade.

The company had on Aug. 1, received a binding offer from Switzerland-based SymbEx, and Germany-based Terragarda to acquire 100% of FBM Hudson Italiana and its UAE unit.

Following Terragarda's withdrawal, the offer is deemed terminated.

KNM said it will provide further updates on any material developments.

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