Malaysia’s Press Metal to acquire 50% stake in Australian firm for $178m

Malaysia’s Press Metal to acquire 50% stake in Australian firm for $178m

Aluminium ingots are seen outside a warehouse that stores London Metal Exchange stocks in Port Klang Free Zone, outside Kuala Lumpur, March 23, 2015. REUTERS/Olivia Harris/File Photo

Malaysia-based Press Metal Aluminium Holdings Bhd has proposed to acquire 50 per cent stake in Australia-based Japan Alumina Associates (JAA) via its 80 per cent-owned subsidiary, Press Metal Bintulu Sdn Bhd, for A$250 million ($178.4 million).

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