Quality Beverages Limited (MUSE:QBL) signed an agreement to acquire Vital Water Bottling Co., Ltd. (MUSE:VTAL) in stock on September 16, 2015. Under the terms of transaction, each share of Vital Water will exchanged for seven share of Quality and Quality will issue a total of 15.4 million new ordinary shares. Post acquisition, Vital Water will be merged with Quality. The transaction is subject to obtain approval from Regulatory bodies, Board of Directors of Quality and Vital Water and shareholder approval of Quality and Vital Water.

The transaction is approved by the Board of Directors of Quality and Vital Water and Board of Directors of Quality has recommended the share holders to approve the transaction. As of October 7, 2015, the Listing Executive Committee of the Stock Exchange of Mauritius Ltd has approved the transaction. As of October 29, 2015, Vital Water shareholders unanimously approved the transaction. The directors of QBL and VITAL draw comfort for their opinion from an independent valuation report prepared by PricewaterhouseCoopers Ltd. The transaction will be terminated upon not fulfillment of certain conditions or waived by December 17, 2015 and the transaction is expected to close on December 31, 2015.

Quality Beverages Limited (MUSE:QBL) completed the acquisition of Vital Water Bottling Co., Ltd. (MUSE:VTAL) on December 31, 2015.