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KUALA LUMPUR (June 18): Biomass boiler company BM Greentech Bhd (KL:BMGREEN) said on Tuesday it had signed a term sheet to fully acquire solar firm Plus Xnergy Holding Sdn Bhd for RM110 million in shares.
The proposed acquisition will be settled through issuance of 81.48 million new shares at RM1.35 apiece, BM Greentech said in an exchange filing. BM Greentech and owners of Plus Xnergy plan to sign a definitive sale and purchase agreement within the next 30 days, it noted.
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