KUALA LUMPUR: Hextar Global Bhd has entered into a share sale agreement to acquire the entire equity interest in Chempro Group of Companies for RM138mil.
According to Hextar, Chempro is a multinational hygiene specialty cleaning chemicals expert with a track record of operating in various locations around Asia, including Singapore, Malaysia, Thailand, Indonesia, Brunei, Hong Kong, Taiwan and China.
Hextar will acquire three companies under Chempro Group, namely Chempro Technology (M) Sdn Bhd, Protek Chemicals & Engineering (B) Sdn Bhd, and a stand-alone company, Alpha Aim (M) Sdn Bhd.
Hextar executive director Datuk Ong Choo Meng said in a statement that Chempro will add value to the group as the agreement comes with a profit guarantee of RM39mil over three years, which translates to a profit after tax of RM13mil a year until the financial year ending Dec 31, 2023.