Citaglobal Berhad (KLSE:CITAGLB) entered into share sales agreement to acquire 60% stake in SPECTRA SURIA SDN BHD from Nik Ahmad Huznee Bin Nik Hussain and Nik Mohd Umar Bin Nik Ahmad Huznee for MYR 2 million on August 4, 2023. Transaction is subject to consummation of due diligence investigation, approval of offer by acquirer board. The transaction is expected to complete within 30 days and is expected to contribute positively to the future earnings of Citaglobal.

The acquisition is earnings-accretive. Astramina Advisory Sdn Bhd acted as the financial advisor to Citaglobal Engineering Services Sdn Bhd.