Malaysian cement producer, YTL Cement, has agreed to acquire Singapore-based NSL for MYR792m (US$169.5m). According to Business Today, NSL is principally involved in the provision of management services and investment holding while its subsidiaries produce and sell building materials, oil and petroleum-related products, and supply environmental services. It is one of the leading producers of precast concrete components in Malaysia and Dubai.
The deal will give YTL Cement an 81.24 per cent share in NSL with YTL acquiring 303,484,453 shares. The move is seen as a chance for YTL to expand into the industrialised building systems’ sectors in Malaysia, Dubai, Finland and Singapore.
