Scomi Engineering Bhd plans to acquire a 42.25% stake in Brazil-based Quota Capital of Quark Fabricacao de Equipamentos Ferroviarios e Servicos de Engenharia Ltda (Quark).
Quark supplies rolling stock and related services to the Sao Paulo Metropolitan Network (SPMN) and is a joint-venture company set up by Scomi, MPE Montagens e Projetos Especiais SA (MPE) and Brasell Gestao Empresarial LTDA (BGEL).
Scomi currently owns 37.75% equity in Quark, while BGEL has 10%. Scomi’s purchase of shares from MPE would raise its total stake in Quark to 80%. BGEL would also raise its stake to 20%, after it purchases the remaining 100,000 shares of MPE.
Scomi signed a memorandum of understanding with MPE and BGEL to regulate the proposed acquisition.
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