Karex buying into ‘The Safer Sex Company’ for RM21mil

PETALING JAYA: Karex Bhd has signed a memorandum of understanding (MoU) to buy a 55% equity interest in Global Protection Corp from founder and shareholder Davin Wedel for US$6.6mil (RM21.2mil).

“Karex has the option to acquire 15% and 30% equity interest in Global Protection in 2017 and 2020 respectively via call and put option agreements to be entered between Karex and Wedel,” it said in a statement yesterday.