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Axiata Group Berhad's Axiata Investments (Cambodia) Limited Completes Acquisition Of Glasswool Holdings Limited

Tuesday, 19 Feb 2013 04:15am EST 

Axiata Group Berhad announced that the acquisition by its subsidiary. Axiata Investments (Cambodia) Limited of the entire ordinary shares in issue of Glasswool Holdings Limited (Glasswool), the owner of the entire ordinary shares in issue of Latelz Co. Ltd. (Latelz), had been completed, following the fulfillment of the conditions precedent of the Sale and Purchase Agreement on the same. As part of the consideration for the acquisition, 10% of the existing issued and paid-up capital of Glasswool will be held by Southern Coast Ventures Inc. Following the completion, Hello Axiata Company Limited’s telecoms business and assets have been transferred to Latelz.