Supermax Corporation Berhad entered into a Share Sale Agreement to acquire remaining 33% stake in Supermax Healthcare Canada Inc. from Sylvain Bergeron for CAD 5.5 million.

Supermax Corporation Berhad (KLSE:SUPERMX) entered into a Share Sale Agreement to acquire remaining 33% stake in Supermax Healthcare Canada Inc. from Sylvain Bergeron for CAD 5.5 million on May 9, 2024. Upon the completion of the Proposed Acquisition, SHCI shall become a wholly-owned subsidiary of Supermax. Based on the audited accounts of SHCI as at June 30, 2023, the net loss was CAD15.3 million and the net book value was CAD73.6 million.

The purchase consideration shall be paid in cash and financed by internally generated funds. The purchase consideration shall be paid in full upon completion. The purchase consideration was based on a willing-buyer willing seller basis.

The Acquisition shall be completed upon the payment of the purchase consideration.