KUALA LUMPUR (March 14): Logistics solutions provider Transocean Holdings Bhd has announced that it will acquire the entire equity interest in Taipanco Sdn Bhd for RM140 million to revitalise its business. The group acquired Taipanco by inking a conditional sale and purchase agreement and a profit guarantee agreement with the company's shareholders and directors Jee Chau Hau, Nazari Akhbar and Nor Rahah Ab Ghani (the vendors). "However, the board noted the average profit guarantee of RM11 million PBT from FY2017 to FY2019 (average PBT) based on the profit guarantee of a cumulative audited consolidated PBT of not less than RM33 million for the corresponding period. The purchase consideration represents an implied PER of 12.73 times based on the average PBT," it said. Transocean shares closed 5 sen or 5.88% higher to settle at 90 sen, with a market capitalisation of RM36.9 million.

Source: The Edge Markets March 14, 2017 12:11 UTC