Pekat unit in negotiations over purchase of stake in electrical power solutions firm

KUALA LUMPUR: Pekat Group Bhd's wholly-owned subsdiary Pekat Teknology Sdn Bhd has entered into negotiations with Apex Power Industry Sdn Bhd for the potential acquisition of equity in EPE Switchgear (M) Sdn Bhd.

In a statement, Pekat said the two parties have inked a memorandum of understanding (MoU) to deal exclusively until June 30, 2024, for the purchase of equity in EPE and the purchase consideration, subject to a due diligence review to be undertaken by Pekat Technology on the target company.