Pecca buys 51% stake in Rentas Health for RM100mil from MD's daughter

KUALA LUMPUR: Pecca Group Bhd, an automotive leather seat maker, is buying a majority stake in a supplier of face mask and Covid-19 test kits for RM100mil.

The company said the purchase of a 51% stake in Rentas Health Sdn Bhd from Teoh Zi Yuen, who is an executive director at Pecca, will be satisfied by RM50mil cash and the issuance of RM50mil worth of new Pecca shares.

The 11.99 million new Pecca shares will be issued at RM4.17 each.