FGV to buy remaining 51% of Felda Holdings for RM2.2bil (Update)

  • Business Premium
  • Friday, 11 Oct 2013

KUALA LUMPUR: Felda Global Ventures Bhd (FGV) has proposed to buy the remaining 51% of Felda Holdings Bhd for RM2.2bil as it seeks to have complete control over the entire plantation chain.

FGV said on Friday it would buy the stake, comprising of 112.19 million shares from Koperasi Permodalan Felda Malaysia Bhd (KPF) or RM2.2bil cash and funding would be from proceeds raised from its initial public offering and borrowings.

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