IJM Corporation Berhad entered into a share purchase agreement to acquire 12.5% stake in Global Vision Logistics Sdn. Bhd. from Swift Haulage Berhad for MYR 35 million.

IJM Corporation Berhad (KLSE:IJM) entered into a share purchase agreement to acquire 12.5% stake in Global Vision Logistics Sdn. Bhd. from Swift Haulage Berhad (KLSE:SWIFT) for MYR 35 million on January 12, 2024.

Under the agreement IJM will acquire 0.6 million equity shares and 0.9 million redeemable preference shares which represent 12.5% stake of the total issued and paid-up share capital. Upon the completion of the acquisition Global Vision Logistics will become an associate company of Swift Haulage and its holding will decrease to 30%. Completion of the sale and purchase of the sale shares and sale preference shares shall take place within five business days upon the execution of the agreement.