Skrine represented Ekuiti Nasional Bhd (“Ekuinas”) as lead counsel in respect of the acquisition of 51% shares of Xenergi Sdn. Bhd. (“Xenergi”) through its portfolio company Davex (M) Sdn. Bhd. (“Davex”), to facilitate Ekuinas’ diversification and expansion into energy solutions business.
 
Xenergi is company specialised in providing consultancy and project execution services for energy efficiency, renewable energy, energy performance contracts, and EPCC projects. Xenergi also acts as a commissioning specialist and provides energy audit services. In light of the Malaysian Government’s target of 31% renewable energy in installed capacity by 2025 and 40% by 2035, Xenergi coming onboard under Davex’s umbrella will allow a unique position to offer holistic renewable energy and energy efficiency solutions, with digitally connected integration technologies to spearhead smart and sustainable buildings, industries and infrastructure in Malaysia.
 
The Skrine deal team was led by M&A Partner Fariz Abdul Aziz, who was supported by Senior Associate Tan Wei Xian, together with Associates Amanda Hollow and Laura Anastasia Kurian.
 
Media Release of this transaction can access at:
https://themalaysianreserve.com/2022/11/02/davex-takes-controlling-stake-in-xenergi/   
https://www.thesundaily.my/business/davex-malaysia-acquires-controlling-stake-in-xenergi-OJ10080493
https://www.businesstoday.com.my/2022/11/02/davex-acquired-controlling-stake-of-51-in-xenergi/
https://newswav.com/article/davex-malaysia-acquires-controlling-stake-in-xenergi-A2211_ztTXCN