# Inix Technologies to acquire 51% stake in L&S Gloves for RM50 million

Inix Technologies Holdings Bhd entered into a memorandum of agreement on 7 December 2020 to acquire a 51% equity interest in L&S Gloves Sdn Bhd for an investment of RM50 million. The definitive agreement is at an advanced stage.

- Type: Acquisition
- Announced: 2020-12-07
- Where: Beranang, Selangor, Malaysia
- Value: $12.0M (50.0M MYR)
- Status: announced
- Capacity: 1.4 billion glove pieces per annum
- Products: latex gloves
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Inix Technologies Holdings Bhd](https://endata.com/companies/52415.md) (acquirer)
- [L&S Gloves Sdn Bhd](https://endata.com/companies/52416.md) (target)

## Sources

- [thevibes.com](https://www.thevibes.com/articles/business/13182/inix-technologies-and-ls-gloves-to-double-production-capacity-by-feb), 2021-01-10: "Inix inked an MoA with L&S Gloves on Dec 7 last year to acquire 51% equity interest of the latter, with an investment of RM50 million."
- [nst.com.my](https://www.nst.com.my/business/2021/01/659385/inix-completes-50pc-stake-acquisition-ls-gloves), 2021-01-21: "Inix Technologies Holdings Bhd (ITH) today signed a share sale agreement (SSA) with L&S Gloves Sdn Bhd (LGSB) for the acquisition of 51 per cent stake in the glove manufacturer."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.