On February 28, 2025, the proposal of Achi Capital Partners (Achi) and Pentamaster Corporation Berhad (PCB) to privatize Pentamaster International (PIL) by way of scheme of arrangement was approved by PIL’s shareholders.
PIL is headquartered in Malaysia with offices in China, the United States, Japan, Germany and Singapore. Its main business includes the supply of automated test equipment and solutions as well as factory automation solutions serving multinational corporations in the semiconductor, medical device, electro-optical and automotive industries. PCB currently owns 63.9 percent of PIL’s shares. Pursuant to the proposal, Achi and PCB will acquire PIL’s shares held by the remaining 36.1% shareholders with cash. The transaction values PIL at approximately HK$2.4 billion (approximately $309 million).
Achi is a private equity investment firm focusing on the semiconductor and technology industry.
If the scheme of arrangement is sanctioned by the Cayman Grand Court, PIL will apply for delisting from the Hong Kong Stock Exchange and will be owned as to 29 percent and 71 percent by the Achi-led consortium and PCB, respectively.
The Hong Kong-based S&C team is led by Kay Ian Ng and Ching-Yang Lin, and includes Candice Lee, Bebe Shing and trainee solicitor Vanessa Kwang.