Agreement Lapses for Sale of Antara Steel to Esteel
Antara SteelThe Star

Agreement Lapses for Sale of Antara Steel to Esteel

The Edge Markets reported that Lion Industries Corp Bhd said that the proposed disposal of Antara Steel Mills Sdn Bhd to Esteel Enterprise Pte Ltd by

The Edge Markets reported that Lion Industries Corp Bhd said that the proposed disposal of Antara Steel Mills Sdn Bhd to Esteel Enterprise Pte Ltd by Lion Industries’ 99%-owned subsidiary Amsteel Mills Sdn Bhd will not be completed as the amended and restated sale and purchase agreement had lapsed.

Lion Industries said the due date on April 10, 2021 to meet all the conditions precedent as stated in the A&R SPA had not been fulfilled or waived. Consequently, the A&R SPA has lapsed and the proposed disposal will not be completed

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