Chembond Chemicals to acquire balance stake in JVC - I Chembond Water Sdn Bhd, Malaysia

To terminate JV agreement with I-Chem Solution Sdn Bhd, Malaysia

Chembond Chemicals has entered into a Share Purchase Agreement (SPA) with (i) I-Chem Solution Sdn Bhd, Malaysia and (ii) I Chembond Water Sdn Bhd, Malaysia, whereby the Company, subject to the conditions to be fulfilled as per the SPA, would acquire additional 49% of the equity shares of I Chembond Water Sdn Bhd, Malaysia.

Post fulfillment of all the necessary terms, conditions & requirements as mentioned in the SPA, the Company would hold 100% of equity share capital of I Chembond Water Sdn Bhd, Malaysia. Further, pursuant to the fulfillment of the terms of the SPA, inter-alia, the Joint Venture (JV) Agreement with I-Chem Solution Sdn Bhd, Malaysia stands terminated.

 

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