Asdion Bhd plans to acquire a majority stake in PT Indoexpress Logistics, an Indonesian total logistics service provider, through a conditional share sale agreement (CSSA) worth RM6 million.
The agreement, signed between Asdion's 99% owned sub-subsidiary, PT Trans Infra Nusantara, and PT Global Dana Sejahtera involves the purchase of 51% equity interest in Indoexpress.
The acquisition will be settled through redeemable convertible preference shares (RCPS) equivalent to about RM6 million.
The CSSA, executed today, will enable Asdion to strengthen its foothold in the Indonesian logistics market.
The acquisition, funded through internally generated funds, is expected to positively impact the group's earnings and earnings per share (EPS) in future financial years, driven by potential growth opportunities.