KUALA LUMPUR: WTK Holdings Bhd is acquiring Alanya Marine Ventures Sdn Bhd (AMV) for RM94.6 million to enable it to venture into the oil and gas (O&G) industry. AMV provides services related to O&G. WTK has proposed to buy shares from AMV’s vendors,to be settled by a combination of RM38.25 million in cash and the issuance of 43.33 million new shares of 50 each in WTK at RM1.30 apiece. “The cash consideration will be funded via internally-generated funds,” it said in a filing to Bursa Malaysia. The proposed acquisition is expected to be completed by year end.
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