PETALING JAYA: CJ Century Logistics Holdings Bhd
is proposing to acquire the entire issued share capital of its subsidiary, CJ Korea Express Malaysia Sdn Bhd (CJKX), for RM100mil.
In a filing with Bursa Malaysia yesterday, CJ Century said it had entered into a conditional share sale and purchase agreement with CJ Logistics Asia Pte Ltd (CJ Asia) to acquire 62.36 million ordinary shares in CJKX.
The proposed acquisition will be satisfied via the issuance of 200 million new ordinary shares in CJ Century to CJ Asia at an issue price of 50 sen per CJ Century share, it said.“The proposed acquisition will principally complement and expand the existing logistics business of the CJ Century group, where the CJKX group is similarly involved in total logistics services, including freight forwarding, warehousing and distribution, as well as transportation.”
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