M & A Equity Holdings Berhad (KLSE:M&A) entered into a conditional share sale and purchase agreement to acquire 75% stake in Value Partners Asset Management Malaysia Sdn. Bhd. from Value Partners Group Limited (SEHK:806) for MYR 2.8 million on October 12, 2023.

The consideration is expected to be funded from M & A Equity Holdings Berhad?s internally generated funds. Value Partners Asset Management Malaysia reported net assets of MYR 5.197656 million and loss after tax of MYR 3.826849 million as at December 31, 2022. The transaction is expected to be completed by the fourth quarter of 2023 and is subject to approval of the Securities Commission Malaysia.