Brief: MTQ Corporation signs deal to sell unit to Bapcor

MTQ

04/10/2016 11:14

Oct 4 (Reuters) - MTQ Corporation Ltd  MTLS.SI  
    * Entered into a share sale agreement with Bapcor limited 
    * Pursuant to deal company has agreed to sell to purchaser 
entire issued and paid-up share capital of MTQ Engine Systems 
(Aust) 
    * Mtqes has an issued and paid-up capital of a$5 million 
comprising of 5 million ordinary shares of a$1 each 
    * Intends for net proceeds raised to be used for repayment 
of bank borrowings 
    * "estimated purchase price is approximately a$17.0 million" 
    * Estimated net proceeds from proposed disposal are 
approximately s$17.7 million 
 
Source text for Eikon:  ID:nSNZ8WnqX3  
Further company coverage:  MTLS.SI  
 
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