Sea Legend Shipping, a wholly owned unit of Malaysia-based shipbuilder and vessel charterer Sealink International Berhad, will acquire a 50 per cent stake in offshore services provider Mitra Angkasa for RM 2.3 million. As part of the deal, Sea Legend will buy 50,000 ordinary shares (50 per cent interest in Mitra Angkasa) for RM 50,000. The company is also required to partly subscribe to RM 3.5 million of redeemable preference shares at par, at an annual interest rate of 9.1 per cent. Further, both Sea Legend and Sealink will subscribe to 450,001 ordinary shares each that are priced at RM 1 apiece. The deal is likely to be completed before the second quarter of 2013.
