Broadway Industrial Group has announced that it has terminated the asset and share purchase agreement (SPA) in relation to the disposal of its hard disk drive (HDD) business on July 1.

Broadway Industrial had signed the SPA on Dec 31, 2020 for the disposal of its wholly-owned subsidiary BIGL Asia to the Seksun group of companies for a cash consideration of US$50 million ($67.22 million).

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook