Marco Holdings Berhad entered into a Shares Sale Agreement to acquire remaining 59.61% stake in Time Galerie (M) Sdn Bhd from Lim Siew Sooi, Lai Yin Chun and Lim Meng Hang for MYR 37.6 million.

Marco Holdings Berhad (KLSE:MARCO) entered into a Shares Sale Agreement to acquire remaining 59.61% stake in Time Galerie (M) Sdn Bhd from Lim Siew Sooi, Lai Yin Chun and Lim Meng Hang for MYR 37.6 million on November 17, 2023. The acquisition will be funded through internally generated funds of Marco Holdings Berhad. As of December 31, 2023, Time Galerie reported net assets of MYR 33.4 million.

The acquisition is expected to be completed within 60 days from the date of SSA.