Fibre and cable company, Opcom Holdings Berhad has proposed to its shareholders a 49% acquisition equity interest in Transgrid Ventures (TVSB) for RM98 million.
The group said the diversification will expose Opcom to the transmission and power generation business. TVSB is principally involved in EPCC of power transmission and distribution substation infrastructure, project management, and engineering consultancy of power transmission and distribution infrastructure as well as supply and maintenance of equipment
for power transmission and distribution substations.
Upon completion of the Proposed Acquisition, TVSB will be an associate company of Opcom Group. The Purchase Consideration it said was arrived at on a willing-buyer and willing-seller basis.
Opcom believes the acquisition may contribute 25% or more of the net profits or cause a diversion of 25% or more of the NA of the group.
