KUALA LUMPUR: Hextar Industries Bhd
’s proposed acquisition of a 51 per cent equity interest in Woodpeckers Group Sdn Bhd for RM177.48 million in cash has fallen through after certain conditions for the deal were not fulfilled.
In a filing with Bursa Malaysia today, Hextar Industries said the conditional share purchase agreement (SPA) entered into between the company and the vendors on Feb 12, 2026, had lapsed today.
It said the SPA, subsequently varied and supplemented by a supplemental agreement dated June 23, 2026, had lapsed. Certain conditions precedent were not fulfilled within the conditional period.
"Accordingly, the proposed acquisition will not proceed,” the company said.
The company made announcements relating to the proposed acquisition on Feb 12, June 12 and June 23, 2026. - Bernama
