KUALA LUMPUR (Jan 30): Swift Haulage Bhd has proposed to acquire the remaining 60% stake in BLG Swift Logistics Sdn Bhd to expand its logistics business.
The group, through wholly owned Swift Integrated Logistics Sdn Bhd (SILSB), currently owns the other 40% equity in BLG Swift.
SILSB is seeking to acquire the 60% stake from BLG Logistics Group AG & Co KG, a logistics services company incorporated in Bremen, Germany, for RM2.7 million.
“The proposed acquisition enables SILSB to wholly own BLG Swift, which will facilitate the group’s aspiration to further expand its logistics business,” Swift Haulage said in a bourse filing.
The completion of the share sales agreement is expected within four months, the group said.
Swift Haulage’s share price closed a sen higher at 51 sen on Monday (Jan 30), valuing the group at RM453.8 million.