Scientex’s subsidiary, Daibochi Berhad announces today on proposed acquisition of the entire equity interest of a downstream flexible plastic packaging (FPP) player Mega Printing & Packaging Sdn Bhd (MPP) for RM125 million in cash.
This acquisition sees two leading downstream FPP giants with strong track records joining forces, possessing a combined experience of close to 70 years towards becoming a super regional player in the F&B packaging (强强联手).
By blending the complementary capacities, expertise and capabilities, we aim to better serve our customers around the world.
The proposed acquisition is conditional upon MPP fulfilling conditions precedent, and is subject to the approval of the Board of Directors and shareholders of Daibochi at an Extraordinary General Meeting to be convened. The acquisition is expected to be completed in the third quarter of 2019.