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MTQ to sell unit to ASX-listed firm for A$17m

Tuesday, October 4, 2016 - 18:44

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MTQ Corporation said on Tuesday its unit that sells turbochargers in Australia would be sold to an ASX-listed company for an estimated A$17 million (S$17.84 million).

MTQ Corporation said on Tuesday its unit that sells turbochargers in Australia would be sold to an ASX-listed company for an estimated A$17 million (S$17.84 million).

It said it would sell MTQ Engine Systems to Bapcor. The acquisition will either be paid fully in cash or be funded up to 50 per cent through an issuance of shares in Bapcor.

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