Malaysia's Sime to privatise subsidiary Tractors

Newswire

KUALA LUMPUR, March 29 (Reuters) - Malaysia's conglomerate Sime Darby Bhd said on Tuesday it plans to privatise its heavy equipment and motor business unit, Tractors Malaysia Holdings Bhd , under a scheme of arrangement. Upon completion of the plan, Tractors will become a wholly-owned unit of Sime, the firm said in a statement to the stock exchange. Sime now holds a 71.74 percent stake in Tractors. Sime said it would acquire 28.26 percent of Tractors for a settlement price of 317 million ...

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