Convenience Shopping (Sabah) Sdn. Bhd. entered into share sale agreement to acquire 25.35% stake in Caring Pharmacy Group Berhad (KLSE:CARING) from Motivasi Optima Sdn Bhd for approximately MYR 140 million on November 28, 2019. As per the agreement, Convenience Shopping (Sabah) Sdn. Bhd will acquire 55 million shares of Caring Pharmacy Group Berhad representing 25.53% stake at MYR 2.6 per share. The consideration of MYR 2.8 million will be paid upon signing of the agreement and remaining consideration MYR 140 million will be paid on closing and will be paid on cash. The transaction will be terminated if the condition in the agreement are not satisfied. Post completion, Convenience Shopping will own 64.8 million shares or 29.78% stake in Caring. Convenience Shopping will further launch an offer along with its persons acting in concert to acquire the remaining stake in Caring at MYR 2.6 per share. The transaction is subject to 7-Eleven Malaysia Holdings Berhad, Convenience Shopping (Sabah) Sdn. Bhd and Motivasi Optima Sdn Bhd shareholder approval, consummation of due diligence and regulatory approval. As of January 22, 2020, 7-Eleven Malaysia Holdings Berhad (KLSE:SEM), parent of Convenience Shopping (Sabah) Sdn. Bhd. issued notice to its shareholders for extraordinary general meeting to be held on February 7, 2020. As on February 7, 2020, shareholders of 7-Eleven Malaysia approved of the transaction. As on February 14, 2020, the conditional agreement became unconditional. The transaction will now complete within 10 days of February 14, 2020. The transaction will not have any effect on issued share capital, shareholding of the substantial shareholders, earnings and EPS of 7-Eleven Malaysia Holdings Berhad. RHB Investment Bank acted as financial advisor to 7-Eleven Malaysia Holdings Berhad, parent of Convenience Shopping (Sabah) Sdn. Bhd. As of December 12, 2019, Mercury Securities Sdn Bhd was appointed as the financial advisor to Caring Pharmacy Group Berhad. Convenience Shopping (Sabah) Sdn. Bhd. completed the acquisition of 25.35% stake in Caring Pharmacy Group Berhad (KLSE:CARING) from Motivasi Optima Sdn Bhd on February 27, 2020.