# Techbond to acquire 99.57% of Malayan Adhesives and Chemicals for RM57M

Techbond Group Bhd has entered into a conditional share sale agreement to acquire 99.57% equity interest in Malayan Adhesives and Chemicals Sdn Bhd (MAC) for RM57.0 million cash, with plans to acquire the remaining 0.43% from minority shareholders.

- Type: Acquisition
- Announced: 2022-12-27
- Where: Shah Alam, Selangor, Malaysia
- Value: $12.8M (57.0M MYR)
- Status: announced
- Products: adhesives, resins, additives, formaldehyde, phenoset microspheres
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Techbond Group](https://endata.com/companies/45546.md) (acquirer)
- [Malayan Adhesives and Chemicals Sdn Bhd](https://endata.com/companies/67538.md) (target)
- [Chemquest Sdn Bhd](https://endata.com/companies/67539.md) (partner)

## Sources

- [bernama.com](https://www.bernama.com/en/news.php?id=2151520), 2022-12-27: "Techbond Group Bhd has entered into a conditional share sale agreement with Chemquest Sdn Bhd to acquire 13.94 million ordinary shares, representing 99.57 per cent equity interest in Malayan Adhesives and Chemicals Sdn Bhd (MAC) for RM57.0 million cash."
- [theedgemalaysia.com](https://theedgemalaysia.com/node/674226), 2023-07-19: "The acquisition of MAC is in line with Techbond’s long-term strategy to expand our product range and geographical reach."

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