Malaysia’s Lion Industries to divest stake in Singapore’s Angkasa Amsteel for $19.6m

steel
A worker walks past coils of rolled steel at the Jindal Stainless Ltd. factory in Hisar, Haryana, India, on Tuesday, May 15, 2018. Photographer: Udit Kulshrestha/Bloomberg

Malaysia-based Lion Industries Corp Bhd is looking to sell its entire 50 per cent stake in Singapore-based Angkasa Amsteel Pte Ltd to a South Korean steel manufacturer for S$26.65 million ($19.6 million), it said in a filing with Bursa Malaysia on Monday.

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