Hextar Industries Bhd’s proposed acquisition of a 51% stake in Woodpeckers Group Sdn Bhd for RM177.48 million cash will not proceed after the underlying share purchase agreement lapsed.
The company said the conditional share purchase agreement dated Feb 12, 2026, as subsequently varied and supplemented, lapsed on Sept 11, 2026 after certain conditions precedent were not fulfilled within the stipulated conditional period.
“As a result, the proposed acquisition will not proceed,” the company said.
The transaction was first announced in February this year, with further updates issued in June.
Under the proposed deal, Hextar Industries had planned to acquire a controlling 51% equity interest in Woodpeckers Group for RM177.48 million in cash.
