Ekovest secures final six-month extension for merger discussions with Knusford

KUALA LUMPUR: Ekovest Bhd has secured a final six-month extension from Jan 28, 2025 to July 27, 2025 to continue discussions on the proposed merger between its wholly owned subsidiary, Ekovest Construction Sdn Bhd (ECSB) and Knusford Bhd.

In a filing with Bursa Malaysia today, Ekovest said that the extension allows both parties more time to assess, evaluate, and deliberate on the merger in detail, as well as to negotiate the terms of the definitive agreement.

Last October, Ekovest signed a binding heads of agreement with its major shareholders, Tan Sri Lim Kang Hoo, and Knusford Bhd to consolidate Lim’s construction and construction-related businesses.

As part of the proposal, Ekovest will sell its entire stake in ECSB to Knusford for RM450 million, with Knusford funding the acquisition through the issuance of new shares at 60 sen per share. – Bernama

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