Boustead Holdings has entered into an MYR 230 million (USD 55,215,479) deal to sell its entire stake in the Boustead Cruise Centre in Klang, Selangor, to new joint owners Westports Holdings and MMC Corp.
The principal activity of the cruise centre is to provide port facilities and services to cruise and navy vessels. The acquisition provided the Westports group with the opportunity to expand into the cruise terminal business.
Westports will acquire a 50% equity interest in Boustead Cruise Centre for MYR 115 million (USD 27,607,740) while MMC Corp, through its unit Klang Port Management, will take the remaining 50% stake also for the same price.
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