LYC Healthcare’s subsidiary has announced that it will be acquiring the remaining 49% equity in SOG Mummy & Baby Centre Pte for a purchase consideration of RM4.5 million to be satisfied entirely via cash, subject to the terms and conditions contained in the
SSA.
The group said the vendor has agreed to sell and the purchaser has agreed to purchase 1,960,000 LYCSOG Shares
and 5,390,000 redeemable preference shares, representing 49.0% equity interest. The subsidiary, LYCSOG is effectively a 51%-owned joint venture of LYC by virtue of LYC’s indirect/ deemed interests held through LYCMCC. Upon completion of the Proposed Acquisition, LYCSOG will become a wholly owned subsidiary of LYCMCC.
