ID :
133613
Mon, 07/19/2010 - 21:31
Auther :
Shortlink :
https://oananews.org//node/133613
The shortlink copeid
AXIATA`S UNIT DISPOSE PAKISTAN`S MULTINET FOR US$15 MIL
KUALA LUMPUR, July 19 (Bernama) -- Axiata Group Bhd's unit, Axiata
Investments (Labuan) Ltd is disposing its entire stake in Multinet Pakistan
(Pvt) Ltd to Adnan Asdar Ali (AA), in a move to focus on mobile communications.
The transaction which involves 89 per cent stake valued at US$15 million is
subject to the fulfillment of regulatory and third party approvals.
AA, currently hold the remaining 11 per cent stake in Multinet, said Axiata
in a statement released here, Monday.
AA will also repay Axiata the shareholders advances provided to Multinet
amounting to PKR973.3 million (RM35.55 million), as part of the agreement.
In addition, AA will also obtain the release of all guarantees and financial
support provided to Multinet in relation to banking facilities totaling US$65
million.
-- BERNAMA
Investments (Labuan) Ltd is disposing its entire stake in Multinet Pakistan
(Pvt) Ltd to Adnan Asdar Ali (AA), in a move to focus on mobile communications.
The transaction which involves 89 per cent stake valued at US$15 million is
subject to the fulfillment of regulatory and third party approvals.
AA, currently hold the remaining 11 per cent stake in Multinet, said Axiata
in a statement released here, Monday.
AA will also repay Axiata the shareholders advances provided to Multinet
amounting to PKR973.3 million (RM35.55 million), as part of the agreement.
In addition, AA will also obtain the release of all guarantees and financial
support provided to Multinet in relation to banking facilities totaling US$65
million.
-- BERNAMA
