MESB Berhad (KLSE:MESB) agreed to acquire Formidex Sdn Bhd from Formidex Sdn Bhd Lotus Essential Sdn. Bhd for MYR 11.2 million on September 22, 2022. The Purchase Consideration shall be fully satisfied by way of cash as well as internally generated funds and/or bank borrowings.

In a related transaction, MESB Berhad agreed to acquire Waier Trading Sdn Bhd from Lotus Essential Sdn. Bhd for MYR 9.8 million and MESB Berhad agreed to acquire N.U. Recycle Sdn Bhd from Lotus Essential Sdn Bhd, DWSK and Lee Wai Fun for MYR 30 million. Transaction is subject to approval from Lotus Essential Sdn.

Bhd, MESB shareholders and board. Transaction is also subject to approval from governmental or regulatory body or competent authority, or third party. KAF Investment Bank Berhad and Malacca Securities Sdn Bhd acted as a financial advisor to KAF Investment Bank Berhad.

million on September 22, 2022. KAF Investment Bank Berhad and Malacca Securities Sdn Bhd acted as a financial advisor to MESB Berhad .