Rasmala to acquire further interest in subsidiary

Rasmala has agreed to acquire a further interest in the capital of subsidiary Rasmala Holdings Ltd from minority shareholders, taking its stake to about 90% from about 76.3%.

Total consideration for the 28,943,956 ordinary shares in RHL being acquired is about $6m.

During the financial year ending on 31 December 2015, RHL generated profits before tax from continuing operations of $2.6m.