EnGro Restructures Subsidiaries

MT Newswires

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EnGro Corp. (SGX:S44) unit, Ssangyong Cement (S), has transferred its entire shareholding of 17.7 million shares in Top-Mix Concrete to the company for SG$17.7 million, according to a Wednesday filing with the Singapore Exchange.

Following the transaction, Top-Mix has become the building materials maker's wholly-owned subsidiary.

The transaction was undertaken to streamline the group's corporate structure.

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