Berjaya sells entire stake in DSG Holdings

PETALING JAYA: Berjaya Corp Bhd (BCorp) is disposing its entire 85% stake in DSG Holdings Ltd, an investment holding company with water and wastewater treatment businesses in China, for RM265.99 million cash.
BCorp told Bursa Malaysia in a filing, shareholders of DSG entered into an agreement with Besino Environment Ltd to dispose 100% stake in DSG for a total cash consideration of about RM312.93 million.
The group said the cash proceeds from the proposed disposal will be used for working capital. The proposed disposal would result in a pre-tax gain of about RM108.29 million for the group, it added.
The proposed disposal is expected to be completed by end of 2018.
DSG is principally involved in the production and supply of potable water, wastewater treatment projects and provision of advisory and management services on the construction projects in the People’s Republic of China.