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Fintec drops plan to acquire Zouk Club KL
Wednesday, 26 Jun 20197:51 PM MYT
KUALA LUMPUR: Fintec Global Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png
has aborted a plan to acquire a 75% stake in club operator Zouk Club (KL) Sdn Bhd.The company, in a filing with Bursa Malaysia today, said the deal was terminated due to non-fulfillment of certain conditions precedent.
In March this year, Fintec said it is buying a 75% stake in Zouk Club KL for RM28.95mil.
"The vendors shall refund in full the deposit in the amount of RM3mil within seven days from the date of the termination on June 26," it said.
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