Classic Scenic Berhad (KLSE:CSCENIC) agreed to acquire 51% stake in Redina Malaysia Sdn. Bhd. from Perdanis Distribution (M) Sdn.

Bhd. for MYR35.7 million on December 12, 2023. The Tranche 1 Purchase Consideration will be funded via the proceeds to be raised from the Proposed 30% Private Placement.

The Tranche 2 Purchase Consideration will be funded via internally generated funds and/or bank borrowings, the exact mix of which will be decided at a later date after taking into consideration, amongst others, the gearing level of Cscenic, interest costs as well as internal cash requirements for Cscenic?s business operations. The Proposals are expected to be completed in the first half of 2024. M&A Securities has been appointed as the Financial Adviser for the Proposals.