Zetrix AI buys 50pct of Philippines-based MYEG Ventures for RM130mil
KUALA LUMPUR: Zetrix AI Bhd is acquiring a 50 per cent stake in Philippines-based MYEG Ventures Inc for RM130 million, a deal that will turn MYEG Philippines Inc into its subsidiary.
Zetrix AI Bhd has announced its acquisition of a 50% stake in Philippines-based MYEG Ventures Inc for RM130 million, which will transform MYEG Philippines Inc into its subsidiary. The technology company entered into a share purchase agreement with British Virgin Islands-based Next Lion Ltd on September 1 to acquire 15.25 million shares in MYEG Ventures.
Upon completion, MYEG Philippines will become a subsidiary of Zetrix AI, strengthening the group's strategic direction and supporting its expansion into the Philippine market. The acquisition is expected to be finalized within three months, subject to the fulfillment of all conditions precedent.
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