FGV's unit to acquire stake in edible oil company for RM976.25 million
Bernama
February 26, 2016 21:30 MYT
February 26, 2016 21:30 MYT
The proposed acquisition is expected to be completed by the first quarter of this year.
Felda Global Ventures Holdings Bhd (FGV)'s unit is buying a 55 percent stake in Zhong Ling Nutril-Oil Holdings Ltd and other vendors for RM976.25 million.
FGV said its unit, Felda Global Ventures Downstream Sdn Bhd had proposed to acquire 81.57 million issued and fully paid-up ordinary shares in the edible oil products manufacturer.
"The proposed acquisition is expected to be completed by the first quarter of this year.
"The move is in line with our global strategic blueprint to increase downstream capabilities in consumer packed goods business in China," FGV said in a filing to Bursa Malaysia today.