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GFM Services Terminates Acquisition of Atmajaya Arvino Over Unmet Conditions

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GFM Services (KLSE:GFM) terminated its proposed acquisition of the remaining 60% stake in Atmajaya Arvino, after the seller failed to meet conditions required for the second tranche of the deal by the June 30 deadline, according to a Wednesday Malaysian bourse filing.

The company said the acquisition was called off on July 1 following the non-fulfilment of the agreed conditions within the stipulated timeframe.

GFM added that the termination is not expected to have a material impact on the group's earnings per share or net assets per share.

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