Sedania has entered into a conditional share sale agreement for the acquisition of a 36.9% stake in Tanamera Group for a purchase consideration of RM4.5 million.
Simultaneous with the entering of the SSA, Sedania, and TGSB had also entered into a conditional subscription agreement for the subscription of an additional 3,397,030 shares in TGSB’s enlarged share capital of 15,197,039 shares to be issued by TGSB to the Purchaser, for the subscription amount of RM 3.68 million. Upon the completion of the SSA and the SA, TGSB will become a 51 %-owned subsidiary of Sedania.
TGSB Group is a producer of premium personal care products and food supplements. With over 20 years of experience, the group specialises in the formulation and production of a range of natural body care products such as soaps, scrubs, massage oils, and essential oils, with natural tropical-based plant ingredients. It is marketed under its premium in-house brand, Tanamera. Their products are 100% plant-based and free of chemical preservatives. The group also provides contract manufacturing services for key international clients.