Ever Glory (SGX:ZKX) entered into a share purchase agreement with Guthrie GTS to acquire all the ordinary shares of Guthrie Engineering, according to a Tuesday filing with the Singapore Exchange.
Guthrie Engineering has a 36.87% stake in Tek Guthrie which is engaged in the manufacturing of moulds, tools and dies, and metal stamping.
The total consideration for the purchase of the sale shares is SG$46.0 million with the completion slated for June 2.
Shares of the company surged over 6% in recent trading.
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