KUALA LUMPUR (Bernama) -- Pan Malaysia Corporation Bhd
(PMC) has proposed to acquire a 51% share in A&W (Malaysia) Sdn Bhd from Inter Mark Resources Sdn Bhd for RM21.04 million.
In a filing with Bursa Malaysia today, PMC said the acquisition would be satisfied via a combination of cash amounting to RM11.57 million and a transfer of 63.11 million PMC shares.
"The proposed A&W acquisition provides an opportunity for the PMC group to expand and diversify its revenue and earnings base from the mainly chocolate and confectionery business into the rapidly growing quick-service restaurant (QSR) business,” the group said.
PMC said the foodservice sector’s growth is expected to recover with an increasing number of transactions as the economy recovers from the COVID-19 pandemic.
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