TWO listed units of Permodalan Nasional Bhd (PNB) – Golden Hope Plantations Bhd (GHope) and Island & Peninsular Bhd (I&P) – have announced a RM3.6bil merger, creating the second largest plantation group, and the largest property company, on the KLSE.
Under the proposal announced yesterday, GHope will acquire 99.6% of I&P's plantation unit, Austral Enterprise Bhd, with I&P retaining the balance 0.4%.
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