Sedania Innovator Bhd has proposed to acquire a 51% stake in Tanamera Group Sdn Bhd (TGSB), a premium personal care products and food supplements producer, for RM8.18 million in cash.
The acquisition involves a conditional shares sale agreement to acquire 4.35 million shares in TGSB and a conditional subscription agreement to subscribe for an additional 3.4 million shares, making TGSB a 51%-owned subsidiary of Sedania.
The deal is expected to be completed by the first quarter of the next year.
Tanamera specialiSes in natural body care products, and this strategic alliance is aimed at capturing a larger share of household spending and expanding Sedania's role in sustainable healthcare.
The move is expected to benefit both companies, allowing them to strengthen their positions and improve their offerings.
Tanamera reported a net loss of RM160,783 for the financial year ended December 31, 2022.