SAM Engineering & Equipment (M) Berhad (KLSE:SAM) entered into a conditional share sale agreement to acquire Aviatron (m) Sdn Bhd from Singapore Aerospace Manufacturing Pte Ltd. for approximately MYR 200 million on September 25, 2023. The proposed acquisition entails the acquisition of 30,000,000 ordinary shares in Aviatron, representing the entire equity interest in Aviatron, by SAMEE. To acquire the entire equity interest in Aviatron for a cash consideration approximately MYR 203.44 million.

The Purchase Consideration will be funded entirely via the proceeds to be raised from the Proposed Rights Issue. In a related transaction, SAM Engineering proposes to undertake a renounceable rights issue of 135,397,357 new ordinary shares in SAMEE. Upon completion of the proposed acquisition, Aviatron will become a wholly-owned subsidiary of SAM Engineering.

As of March 31, 2023, Aviatron reported adjusted net assets of MYR 121.2 million, revenue of MYR 126.4 million, EBITDA of MYR 40.9 million, Profit before tax of MYR 7.37 million and Profit after tax of MYR 4.98 million. The transaction is subject to Bursa Securities for the listing and quotation of the 135,397,357 Rights Shares on the Main Market of Bursa Securities and completion of the Proposed Rights Issue. Maybank Investment Bank Berhad and Inter-Pacific Securities Sdn Bhd acted as financial advisors to SAM Engineering & Equipment.