KUALA LUMPUR (Jan 28): Malakoff Corp Bhd (KL:MALAKOF) has extended the deadline to fulfil conditions precedent for its proposed acquisition of a 49% stake in solid waste management company E-Idaman Sdn Bhd for three more months to April 28, said the power producer in a bourse filing.
The latest extension marked the fourth time the independent power producer has moved the deadline to acquire the stake in E-Idaman. Malakoff did not reveal the reasons behind delays in meeting the deal's conditions.
The deal was announced in October 2023. Malakoff’s wholly owned unit Tuah Utama Sdn Bhd wants to buy a 49% stake in E-Idaman from Metacorp Bhd for RM133.2 million. The completion date then was six months after the announcement.
“Tuah Utama has agreed with Metacorp for further extension of the cut-off date for the fulfillment of the conditions precedent,” Malakoff said in the filing.
Shares in Malakoff fell four sen or 4.44% to close at 86 sen on Tuesday, valuing the company at RM4.28 billion.
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