Business

AirAsia’s subsidiary completes aquisition of Teleport Commerce

Syndicated News
Written by Syndicated News

KUALA LUMPUR, Dec 24 2019 : Airasia Group Bhd’s indirect wholly-owned subsidiary, Teleport Everywhere Pte Ltd has yesterday completed its acquisition of Teleport Commerce In Private Limited, which was previously known as RC Red Cargo Services Private Ltd.

“Accordingly, Teleport Everywhere holds 469,000 ordinary shares, equivalent to 67 per cent shareholding in Teleport Commerce,” the low-cost airline group said in a filing with Bursa Malaysia today.

The group had previously said that the exercise, worth RM272,672 in cash, would provide general sales agent services to Teleport and align with its strategy to expand ground presence in strategic markets across Asia. – Bernama

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