PETALING JAYA: Citaglobal Bhd
has revised the purchase consideration for its proposed acquisition of a 70% stake in Zeqna Corporation Sdn Bhd to RM14.5mil from RM15mil.
In a statement, the group said its wholly-owned subsidiary, Citaglobal Renewable Energy Sdn Bhd, had entered into a supplemental agreement for the acquisition.
Zeqna owns and operates the 6MW Slim hydropower plant in Perak.
Citaglobal said RM4mil of the purchase consideration had been paid, with the remaining RM10.5mil due by Oct 29, 2026.
“The proposed acquisition would give Citaglobal a controlling interest in an operating power generation business. Slim’s long-term renewable energy power purchase agreement with Tenaga Nasional Bhd supports the group’s plans to build recurring revenue from electricity generation,” it said.
Separately, Citaglobal is pursuing the proposed acquisition of a 70% stake in Koridor Mentari Sdn Bhd, which is developing the 6MW Kampar hydropower project in Perak.
The two proposed acquisitions would add a combined 12MW of operating and planned hydropower capacity to the group's renewable energy portfolio.
