Sunzen to buy 70% stake in Eye Nation Medical

KUALA LUMPUR: Sunzen Biotech Bhd has proposed to acquire 70% stake in Eye Nation Medical Sdn Bhd for RM6.37mil.

In a filing with Bursa Malaysia, Sunzen said it entered into a non-binding term sheet with Lee Peng Hwa and Lay Lee Chin to acquire 70,000 ordinary shares, representing 70% in Eye Nation.

“The proposed acquisition is in the process of negotiation and subjected to the terms to be finalised and/or further terms and conditions, where applicable, to be incorporated in the share sale agreement and upon completion of the due diligence to be conducted on the target company,” Sunzen said.