PETALING JAYA: Government-linked private equity fund management company Ekuiti Nasional Bhd (Ekuinas) announced its entry into the retail sportswear business following the acquisition of a 35% stake in Malaysia’s leading bumiputra sportswear retailer, Al-Ikhsan Sports Sdn Bhd, for RM68.6mil.
The deal also includes the 100% acquisition and injection of the company’s homegrown sportswear apparel brand, AL Sports, under the Al-Ikhsan umbrella, to leverage on the increasing interest in health and fitness among Malaysians in general.