KUALA LUMPUR: Pekat Group Bhd ‘s wholly-owned subsdiary Pekat Teknology Sdn Bhd has entered into negotiations with Apex Power Industry Sdn Bhd for the potential acquisition of equity in EPE Switchgear (M) Sdn Bhd.
In a statement, Pekat said the two parties have inked a memorandum of understanding (MoU) to deal exclusively until June 30, 2024, for the purchase of equity in EPE and the purchase consideration, subject to a due diligence review to be undertaken by Pekat Technology on the target company.
EPE is principally involved in manufacturing, engineering and project activities, providing a wide range of products and services to the generation, transmission and distribution sectors of the electrical power industry.