KUALA LUMPUR (Dec 4): DRB-Hicom Bhd (KL:DRBHCOM) has proposed to purchase the entire equity interest in Spirit Aerosystems Malaysia Sdn Bhd (Spirit MY) for US$110.62 million (RM454.87 million), up from the earlier estimated enterprise value of US$95.2 million.

In a filing with Bursa Malaysia on Thursday, DRB-Hicom, via its principal adviser AmInvestment Bank Bhd, said the price difference is due to the additional cash amount of US$16.94 million, minus US$1.52 million in indebtedness.

On Aug 11, DRB-Hicom announced that its wholly owned unit, Composites Technology Research Malaysia Sdn Bhd (CTRM), had entered into a conditional share purchase agreement with the US-based aerospace manufacturers, Spirit Aerosystems Inc and Spirit Aerosystems International Holdings Inc, for the proposed acquisition of their Malaysian operations, Spirit MY.

In the Aug 11 filing, DRB-Hicom said upon completion of the proposed acquisition, Spirit MY will become a wholly owned direct subsidiary of CTRM. The acquisition is expected to be completed by the fourth quarter of 2025, it said.

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