CAF Global Tech Sdn. Bhd entered into a non-binding term sheet to acquire 51% stake in CAF Motors Sdn Bhd from CAF Global Tech Sdn. Bhd for MYR 10 million on July 12, 2023. Consideration will be satisfied via MYR 8.5 million via cash and Consideration Shares and MYR 1.5 million via cash subject to the fulfillment of the profit guarantee. Transaction is subject to Ahb Holdings Berhad's Board of Directors' and shareholders? approvals for the Proposed Acquisition, Completion of due diligence on the CAF Motors Sdn Bhd which findings of the due diligence are, in all respects satisfactory to the Company, CAF Global Tech procuring the CAF Motors Sdn Bhd to obtain third-party consents and/or notifying any other person for the execution and implementation of the share sale agreement for the Proposed Acquisition, The Company procuring the approval of Bursa Malaysia Securities Berhad for the listing of and quotation for the new ordinary shares of the Company to be issued to partly satisfy the Purchase Consideration and The execution of a shareholders? agreement between the Company and CAF Global Tech.
AHB Holdings Berhad (KLSE:AHB) cancelled the acquisition of CAF Motors Sdn Bhd from CAF Global Tech Sdn. Bhd. on April 23, 2024.