GFM Services Berhad (KLSE:GFM) entered into an agreement to acquire Atmajaya Arvino Sdn Bhd from Ahmad Nasri Bin Abdul Gani for MYR 9 million on March 15, 2023. GFM Services will acquire 100 shares of Atmajaya Arvino Sdn Bhd and consideration will be paid through internally generated funds. The acquisition will done in three tranches.

The transaction is subject to financial, legal, technical and business due diligence on the AASB, execution of a consultancy agreement to be entered into between Dato? Mohtar Bin Salleh and AASB, the Buyer having obtained the necessary approvals from its directors, if required, approving the execution of the SSA and performance of the obligations of the Buyer under the SSA and completion of the transactions contemplated therein, the Seller having provided written evidence to the Buyer that the Malaysian Highway Authority?s (?LLM?) or the ANIH Berhad?s (?Concessionaire?) application to own the project land had been approved by the relevant authorities and the Company having entered into a sublease agreement with LLM or the Concessionaire in relation to the project land on terms and conditions acceptable to the Buyer. As of September 15, 2023, GFM Services entered into a supplemental share sale agreement to extend the date by which the Conditions shall be met to December 31, 2024.