FARAH ADILLAKUALA LUMPUR: HSS Engineers Bhd (HEB) today announced that it is acquiring the entire stake in SMHB Engineering Sdn Bhd for RM270 million. The acquisition paves way for HEB Group to strengthen its engineering consulting space in the water infrastructure sector. The purchase consideration of RM270 million entails RM162 million cash, and RM108 million worth of HEB Group shares issuances to the vendors. HEB executive director Tan Sri Kuna Sittampalam said the enlarged entity would have a substantial combined orderbook of nearly RM740 million. The purchase price of RM270 million is at an enterprise value over EBITDA of 7.7 times.

Source: New Strait Times September 29, 2017 04:41 UTC