MAA Group Berhad (KLSE:MAA) entered into an agreement to acquire 57.78% stake in Turiya Berhad (KLSE:TURIYA) from Ithmaar Bank B.S.C. (closed) for MYR 23.8 million on June 22, 2021. MAA will acquire 132 million shares at MYR 0.18 per share. In a related transaction, MAA Group has made an offer to acquire the remaining stake in Turiya Berhad on June 22, 2021. The transaction will be funded through the unutilized proceeds of MYR 41.17 million from the disposal of MAA Takaful Berhad. The transaction is not subject to approval from shareholders of MAA. The transaction is expected to increase earnings and earnings per share of the MAA for the financial year ending December 31, 2021.

MAA Group Berhad (KLSE:MAA) completed the acquisition of 57.78% stake in Turiya Berhad (KLSE:TURIYA) from Ithmaar Bank B.S.C. (closed) on June 22, 2021.