Malaysia's Top Glove Enters Agreement to Buy Aspion for MYR1.3 Billion
January 12 2018 - 1:16AM
Dow Jones News
By Yantoultra Ngui
KUALA LUMPUR, Malaysia-- Malaysia's Top Glove Corporation Bhd.
(7113.KU) announced on Friday that it has entered into an agreement
with Adventa Capital Pte Ltd. to buy local privately owned surgical
glove maker Aspion Sdn Bhd. for a total of 1.37 billion ringgit
($345 million).
The announcement comes more than a month after Top Glove, the
world's largest rubber glove maker, said it was negotiating a
definite agreement for the purchase.
Top Glove said it will emerge as the global leader in surgical
glove manufacturing upon the acquisition, according to a press
statement.
This would further solidify its status as the world's largest
manufacturer of gloves, it added.
Shares of Top Glove at Friday's midday break was 0.9% higher at
MYR8.78, prior to the announcement.
Write to Yantoultra Ngui at yantoultra.ngui@wsj.com
(END) Dow Jones Newswires
January 12, 2018 01:01 ET (06:01 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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