Oppstar Berhad entered into a share sale agreement to acquire remaining 42.5% stake in Alpha Core Sdn Bhd from Sophic Automation Sdn. Bhd. for MYR 0.33 million.

Oppstar Berhad (KLSE:OPPSTAR) entered into a share sale agreement to acquire remaining 42.5% stake in Alpha Core Sdn Bhd from Sophic Automation Sdn. Bhd. for MYR 0.33 million on April 26, 2023.

The Purchase Consideration will be funded from the internally generated funds of Oppstar and its subsidiaries. Upon completion of the Acquisition, Alpha Core will become a 100%-owned subsidiary of Oppstar. The Acquisition is not subject to the approvals of the shareholders of Oppstar and/or any other relevant authorities.

The transaction is expected to complete by the second quarter of 2023.