KUALA LUMPUR: Hextar Global Bhd
is set to venture into the durian industry through the proposed acquisition of PHG Ever Fresh Group Sdn Bhd, one of the largest durian processing factories and exporters in Malaysia, worth RM84mil.
Hextar said its 51%-owned subsidiary Hextar Fruits Sdn Bhd has entered into a share sale agreement with PHG Ever Fresh Group to acquire 100% equity interest in three of its subsidiary companies – PHG Ever Fresh Food (M) Sdn Bhd, PHG Ever Fresh Food (TK) Sdn Bhd and PHG Wholesale and Retails Sdn Bhd.
The agreement included the acquisition of a 55% stake in PHG Ever Fresh Plantation Sdn Bhd, the group said.
The proposed acquisition will be satisfied entirely in cash, which shall be funded through a combination of internally-generated funds and bank borrowings. — Bernama
