Scientex to buy Daibochi stake for RM222.5m
PETALING JAYA: Packaging material maker Scientex Bhd has inked a conditional share sale agreement to acquire a 42.41% stake in its smaller rival Daibochi Bhd for RM222.5mil.
In a filing with Bursa Malaysia, the company said it had signed the agreement with certain shareholders of Daibochi or the vendors to purchase over 139.06 million ordinary shares in Daibochi via a share-swap deal.
The conditional share sale agreement followed the signing of a heads of agreement between both parties last month in relation to the proposed acquisition, which will be carried out at RM1.60 per Daibochi share.
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