National carrier Malaysia Airline today said the conditions stipulated in its proposed sale of a 70 percent stake in its catering unit have been fulfilled.

Malaysia Airlines said in a statement the share sale agreement signed on July 30, 2002, with LSG Asia GmbH and Fahim Capital Sdn Bhd became unconditional Thursday.

Malaysia Airlines will sell 54.6 million shares of RM1 par value each and 700,000 redeemable preference shares of 0.01 ringgit each in MAS Catering for RM175.00 million.

The carrier said it would make a further announcement when the share sale agreement had been completed. - AFP