PETALING JAYA: Boustead Heavy Industries Corp Bhd (BHIC) is set to raise its indirect stake in BHIC Aeroservices Sdn Bhd (BHICAS) to 81%, from 51%, through a proposed RM8mil acquisition of a 30% interest from Prestige Pillar Sdn Bhd.

Its wholly-owned subsidiary, BHIC Defence Technologies Sdn Bhd, entered into a conditional share sale agreement with Prestige Pillar yesterday for the acquisition of 600,000 shares in BHICAS, with the purchase consideration to be paid entirely in cash.

BHIC said the acquisition would increase its attributable share of BHICAS’ earnings and future cash-generating capacity, while streamlining the shareholding and governance structure of the aerospace and defence business.

The RM8mil consideration will be funded from BHIC Group’s internally generated funds, with completion expected in the fourth quarter of 2026.

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