KUALA LUMPUR, June 9 Malaysian palm oil giant Kuala Lumpur Kepong (KLK) Bhd has proposed to acquire IJM Corporation Bhd’s entire stake in IJM Plantations Bhd for RM1.53 billion, IJM Corp said today. In a bourse filing IJM Corp said it has received a letter from KLK, one of the largest palm.
Malaysian palm oil giant KLK offers $372m for majority in IJM Plantations
Photo: Reuters
June 9, 2021
Malaysian palm oil giant Kuala Lumpur Kepong (KLK) Bhd has proposed to acquire IJM Corporation Bhd’s entire stake in IJM Plantations Bhd for 1.53 billion ringgit ($371.72 million) in cash, the companies said on Wednesday.
IJM Corp said it has received a letter from KLK, one of the largest palm oil planters in the country, offering to acquire its 56.2% equity holding at 3.10 ringgit per share.
The construction group said it has agreed in principle to finalise terms of the proposed acquisition with KLK.
“After having deliberated on the merits of the offer, the board is in principle agreeable to finalise the terms and conditions with KLK … for the execution of the sale and purchase agreement,” it said.
KUALA LUMPUR, June 4 ― Shares of MMC Corporation Bhd were higher following an announcement that Seaport Terminal (Johore) Sdn Bhd (STJ) had intended to take MMC private via selective capital reduction and repayment exercise. MMC has received a letter from its controlling shareholder, STJ, a.