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Zetrix AI Ends MYR130 Million MYEG Ventures Deal

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Zetrix AI (KLSE:ZETRIX) terminated its deal to acquire a 50% stake in MYEG Ventures from Next Lion for 130 million ringgit, according to a Friday Malaysian bourse filing.

The deal, announced on Sept. 1, was to be funded through cash and the issuance of up to 360.6 million Zetrix AI shares.

The company said the termination followed a review of the transaction's commercial rationale amid volatility in its share price, which would have affected the consideration shares.

Neither party will incur break fees or penalties, and the termination is not expected to materially affect Zetrix AI's financial position or capital structure, the filing said.

Shares of the digital services and technology company fell nearly 2% in recent trade.

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