BRC Asia (SGX:BEC) signed a non-binding term sheet to acquire a controlling stake in Southern Steel Mesh, a Malaysia-based manufacturer of steel wire mesh and related products, according to a Friday filing on the Singapore Exchange.
The Singapore-listed steel reinforcement firm is in talks with parent Southern Steel (KLSE:SSTEEL) for a share purchase and issuance that would see it hold more than 50% of the target's expanded equity.
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