Al Jadeed Investment International agreed to acquire 80.576% of stake in Horizon Remit Sdn Bhd. from Paul Merchants Limited (BSE:539113) and along with other shareholders for RM 0.56 million on June 16, 2021. A Total Sale consideration of RM 0.56 million has been agreed for 80.576% shareholding, out of which RM 0.1 million is payable immediately and remaining RM 0.46 million is payable at the time of closing i.e. after receipt of regulatory approvals. EbixCash World Money India Limited holding will retain its stake of 19.42%. This is subject to approval of the deal by Bank Negara Malaysia and Reserve Bank of India. As per the Agreement, the sale should be completed by 31st July, 2021 unless extended by the parties mutually.