CTOS buys minority stake in RAM Holdings

CTOS group chief executive officer Dennis Martin (pic) said the group will look to realise the value of the acquisition as both companies have strong synergies in product offerings and customer base.

KUALA LUMPUR: Credit reporting agency CTOS Digital Bhd has acquired a 4.6% minority stake in credit rating agency RAM Holdings Bhd (RAM) for RM10.1mil, making its first post-listing acquisition.

Yesterday, CTOS entered into a share purchase agreement (SPA) with CIMB Bank Bhd to acquire 462,500 ordinary shares representing a minority stake in RAM.