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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