Eastern Steel eyeing production restart even as M&A talks stall

Malaysia’s Hiap Teck Venture has decided not to extend the deadline to enter into definitive agreements with China’s Angang Group and several other companies for the sale of its shares in Eastern Steel.

The deadline for the parties to reach a final deal ended on March 31, and Eastern Steel’s board decided not to extend it, Hiap Teck – which owns 55% of the company – said on Monday April 3.
“Moving forward, Eastern Steel will commence planning for the resumption of production,” it said.

Eastern Steel, located...

Published

Juan Weik

April 04, 2017

06:36 GMT

Singapore