UEM Edgenta Bhd, which has proposed to acquire an 80% equity stake in KFM Holdings Sdn Bhd for RM128mil cash, has entered into a shares sale agreement with KFM's controlling shareholders for the deal.
In a filing with Bursa Malaysia today, UEM Edgenta said it had entered into a shares sale agreement with the Nurolamin Abas and Fardan Abdul Majeed, who hold stakes of 51% and 49% respectively in KFM.
It said the acquisition involved an upfront payment of RM92mil, of which RM36mil is in cash while RM56mil will come from new UEM Edgenta shares to be issued. The acquisition also involved a deferred cash payment of RM20mil and incremental value payment of RM16mil, subject to KFM’s achievement of key financial targets.
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In a filing with Bursa Malaysia today, UEM Edgenta said it had entered into a shares sale agreement with the Nurolamin Abas and Fardan Abdul Majeed, who hold stakes of 51% and 49% respectively in KFM.
It said the acquisition involved an upfront payment of RM92mil, of which RM36mil is in cash while RM56mil will come from new UEM Edgenta shares to be issued. The acquisition also involved a deferred cash payment of RM20mil and incremental value payment of RM16mil, subject to KFM’s achievement of key financial targets.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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