Envictus International (SGX:BQD) has agreed to acquire a 20% stake in Malaysia-based plastic disposable packaging company Goodwill Everest for 18 million ringgit, according to a Wednesday filing to the Singapore Exchange.
Under the terms of the agreement, the company will pay 9 million ringgit in the first month and the remaining amount in three tranches of 3 million ringgit each over the next nine months.
Envictus said the proposed deal brings packaging material trading in-house.
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