According to the agreement, Kagara stake in MUX will come down to 2.7% from 60.7% with $1.7m to be paid to the latter.
The deal is reportedly kept on hold for MUX to release an expert report on the deal for its shareholders not associated with other two companies.
Upon the approval of the shareholders, the company would proceed with the deal.
MUX that appointed Deloitte Corporate Finance as lead financial adviser and Clayton as legal adviser expects the transaction to be completed by 30 April 2013.
