As such, the company has entered a share sale and purchase agreement with Atlan Holdings for 37.7 million ordinary shares, or 100% of the total issued and paid-up share capital of United Industries Holdings.
Duty Free International is acquiring OEM producer and supplier United Industries Holdings for a consideration of RM175 million, alongside strategic plans to diversify its business, according to a release dated July 21.
The company says that it has been exploring new business opportunities that either complement existing core operations or that will offer a stable and sustainable stream of income, and have identified the manufacturing and supply of automotive parts as a potential business activity.
