Malaysia’s Sime Darby to buy Australia’s Heavy Maintenance for A$58 mil.
KUALA LUMPUR, NNA – Malaysian conglomerate Sime Darby Berhad said Tuesday it will buy all outstanding shares in Australia’s Heavy Maintenance Group Pty. Ltd. for A$58 million ($41 million) to expand its geographic coverage.
By the end of the year, Sime Darby Industrial Australia Pty. Ltd. will receive the shares from Pemba Capital Partners, a private equity fund. Heavy Maintenance is a leading provider in the manufacture, refurbishment and surface finishing of equipment components to the mining, oil and gas and other industries in the Asia-Pacific region.