Halex buys stake in Cambodian lottery company VW Win

Halex International Sdn Bhd, a subsidiary of Halex Holdings Bhd, has entered into a memorandum of understanding (MoU) to buy at least 51 percent of VW Win Holdings Plc from major shareholder Goh Teik Keng.

VW Win currently operates a licensed lottery gaming business in Cambodia, and intends to apply for and operate an online gaming license in the kingdom.

In a filing with Bursa Malaysia, the group said that the proposed acquisition shall be conditional upon the fulfilment of the conditions as stated in the MoU by Dec 10, this year.

The conditions stipulated in the MoU include Halex International receiving a written approval from the relevant authorities in Cambodia with regards to the proposed sale and purchase of the shares; completing a legal and financial due diligence on the business of VW Win; and obtaining shareholders’, Bursa Malaysia’s and Securities Commission Malaysia’s approval in relation to the proposed acquisition.

The MoU also states that VW Win must obtain a valid online gaming license in Cambodia. No further financial details were provided. 

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