(SOPB) has entered into a conditional share sale agreement with Shin Yang Holding Sdn Bhd (SYHSB), to acquire 40 per cent equity interests in SOP Plantations (Sabaju) Sdn Bhd (SOP Sabaju) for a cash consideration of RM45.88 million.
In a filing with Bursa Malaysia today, SOPB said the proposed acquisition involves the remaining 6.20 million shares in SOP Sabaju, adding that the purchase is expected to be completed by end of the second quarter of 2021. The equity interest shall be acquired by the SOPB from SYHSB free from all claims, charges, liens and encumbrances together with all the rights attached thereto, and all dividends, rights, and distributions, declared, paid or made in respect thereof, from the date of completion,” it said.