Everest Hectare Sdn Bhd has secured 50.02 percent stake in the garment retail company, Hing Yiap Group Bhd for RM1.50 per share which totally amounts to RM31.3 million.
The payment for the acquisition of the company's share has been made in cash on January 17.
Hing Yiap Group Bhd has received an unconditional takeover offer from Everest Hectare Sdn Bhd for purchasing the rest of the shares.
Fibre2fashion News Desk - India
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