Akij group acquires two Malaysian companies

Akij Group, one of the leading private sector conglomerates in the country, has taken over two Malaysian companies in a transaction involving $77 million, the first cross-border acquisition by a Bangladeshi company.   

Akij Group has availed a financing facility from the German Development Finance Institution DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH and Standard Chartered Bank Malaysia Berhad (StanChart) to acquire two operating companies in Mentakab, Malaysia under their Investment Company Akij Resources SDN BHD (ARM), the company said in a press statement.

Green Delta Capital Limited (GDCL) was the mandated lead arranger and Advisor to the transaction where GDCL provide structuring of the deal and raising USD 38 million from DEG and Stanchart. GDCL also performed as Independent valuer of the target companies.

Akij acquired Robin Resources Malaysia SDN BHD and its subsidiary Robina Flooring SDN BHD both of which manufacture MDF board and wood floor tiles and different wood products and export to about 60 countries.

To commemorate the closing of this landmark transaction, a closing ceremony was recently held at a city hotel in the capital. Guests of the program included the Director of Akij Group  Sk Jamil Uddin along with its Chief Financial Officer Shamsuddin Ahmed. The ceremony was also graced by the presence of CEO of Standard Chartered Bank Bangladesh Naser Ezaz Bijoy, Senior Investment Manager, from DEG the local representative Arif Iqbal Khan, along with the Managing Director & CEO of Green Delta Capital Limited. Md. Rafiqul Islam. Also present were the relevant team members of various parties of the transaction.

Bangladesh Bank approved outward capital remittance for Akij Jute Mills to acquire two operating company in Malaysia, the press statement added.

 

Akij group acquires two Malaysian companies

Akij Group, one of the leading private sector conglomerates in the country, has taken over two Malaysian companies in a transaction involving $77 million, the first cross-border acquisition by a Bangladeshi company. Akij Group has availed a financing facility from the German Development Finance Institution DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH and Standard Chartered Bank Malaysia Berhad (StanChart) to acquire two operating companies in Mentakab, Malaysia under their Investment Company Akij Resources SDN BHD (ARM), the company said in a press statement. Green Delta Capital Limited (GDCL) was the mandated lead arranger and Advisor to the transaction where GDCL provide structuring of the deal and raising USD 38 million from DEG and Stanchart. GDCL also performed as Independent valuer of the target companies. Akij acquired Robin Resources Malaysia SDN BHD and its subsidiary Robina Flooring SDN BHD both of which manufacture MDF board and wood floor tiles and different wood products and export to about 60 countries. To commemorate the closing of this landmark transaction, a closing ceremony was recently held at a city hotel in the capital. Guests of the program included the Director of Akij Group Sk Jamil Uddin along with its Chief Financial Officer Shamsuddin Ahmed. The ceremony was also graced by the presence of CEO of Standard Chartered Bank Bangladesh Naser Ezaz Bijoy, Senior Investment Manager, from DEG the local representative Arif Iqbal Khan, along with the Managing Director CEO of Green Delta Capital Limited. Md. Rafiqul Islam. Also present were the relevant team members of various parties of the transaction. Bangladesh Bank approved outward capital remittance for Akij Jute Mills to acquire two operating company in Malaysia, the press statement added.