Batu Kawan and TMK Chemical extend exclusivity for CCM takeover talks to Sept 19

Batu Kawan Bhd and TMK Chemical Bhd have agreed to extend the exclusivity period for negotiating TMK's proposed RM920 million acquisition of Chemical Company of Malaysia Bhd (CCM) until Sept 19. The deal, first announced in June, would see Batu Kawan become TMK Chemical's second largest shareholder with at least a 20% stake. The transaction is a related party deal as TMK Chemical is controlled by Datuk Lee Soon Hian, the younger brother of Batu Kawan chairman Tan Sri Lee Oi Hian.