TROOPS Inc. announced that its subsidiary, Giant Connection Limited, has entered into a Letter of Intent to acquire a 49% equity interest in Y Concept Holding Limited, the parent company of The Cara Hotel in Malaysia. This acquisition aims to expand TROOPS' presence in the Malaysian co-living and co-working space sector. The transaction will involve convertible notes issued by TROOPS and is subject to conditions such as satisfactory due diligence and board approvals. This strategic move aligns with TROOPS' objective to diversify investments and leverage growth in Asia's flexible living and working space market.
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