Asia Tele-Net to sell Process Automation to IPCO Intl for HK$420 million

Asia Tele-Net and Technology Corp Ltd (0679) said it has agreed to sell Process Automation (BVI) Ltd to Singapore-listed IPCO International Ltd for 420 mln hkd. Asia Tele-Net will receive 126 mln hkd in cash and 227.90 mln new shares in IPCO International, it said.

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