No financial impact: FGV says that FGVD will not be pursuing or taking any legal action pursuant to the contracts’ cancellation.
KUALA LUMPUR: Felda Global Ventures Holdings Bhd’s (FGV) unit, Felda Global Ventures Downstream Sdn Bhd (FGVD), has called off its proposed RM976.25mil acquisition of a 55% stake in China-based edible oil producer Zhong Ling Nutril-Oil Holdings Ltd.
The agri-business company told Bursa Malaysia yesterday that FGVD had issued termination notices, dated April 8, to Zhong Hai Investment Holdings Ltd and the other vendors.
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