Teo Lay Ban agreed to acquire 4.40% stake in Fiamma Holdings Berhad (KLSE:FIAMMA) from Casa Holdings Limited (SGX:C04) for MYR26 million on July 1, 2024. A cash consideration valued at MYR 1.13 per share will be paid by the buyer. As part of consideration, an undisclosed value is paid towards common equity of Fiamma Holdings Berhad.

The transaction is subject to approval of offer by target shareholders.