Brahim's selling 49pc stake in unit for RM218m

KUALA LUMPUR:  Brahim's Holdings Bhd  is selling a 49 per cent of its equity stake in Brahim's Airline Catering Holdings Sdn Bhd (BACH) to SATS Investments Pte Ltd for RM218 million cash. Of the amount, RM110 million will be paid upon the completion of the proposed disposal, while the remaining RM108 million will be paid upon achieving certain financial targets. The disposal consideration of up to RM218 million is justifiable as it represents a premium of 68.17 per cent over the cost of its investment for a 49 per cent equity interest in BACH, of about RM129.63 million, the company said yesterday.