M&As this week: Federal Signal Corporation, Selangor Dredging Berhad, UED Developments
Federal Signal Corporation has signed a definitive agreement to acquire Truck Bodies and Equipment International from GenNx360 Capital Partners for $270m.
Truck Bodies and Equipment is engaged in the manufacturing of dump truck bodies and trailers, while GenNx360 is a private equity firm.
All companies involved in the transaction are US-based.
Federal Signal plans to combine TBEI with its Environmental Solutions Group, following the transaction.
Selangor Dredging Berhad (SDB) has announced the signing of a share sale agreement with Dato’ Sri Chee Yew Fei to acquire 20% stake in Webcon Mining for CNY20m ($2.89m) in an all-cash deal.
SDB is a property management and leasing services provider, while Webcon Mining is involved in the mining and sale of minerals.
Both companies involved in the transaction are based in Malaysia.
Singapore-based BlueScope Buildings has announced the sale of 1,022,088 shares representing approximately 40% interest in the issued and paid-up share capital of BlueScope Buildings (Malaysia) to UED Developments for MYR1.02m ($0.24m).
UED Developments is a subsidiary of property and construction firm United Engineers Limited, while BBM is a pre-engineering building solutions provider.
Both parties involved in the deal are based in Malaysia.
China Polymetallic Mining’s subsidiary Hua Xing Global has announced its plans to acquire 100% stake in Mynmar-based Horeb Mounting Mining for CNY98m ($14.27m) in an all-cash deal.
Horeb Mounting Mining is owned by Daw Than Thanshwe and Daw New Lae Nae Htar.
Following the transaction, Horeb Mounting will become an indirect subsidiary of China Polymetallic, an operator of lead-zinc-silver mines based in Hong Kong.