Ta Ann to buy 30.39% stake in SPB for RM170mil

PETALING JAYA: Ta Ann Holdings Bhd has proposed to acquire a 30.39% stake in Sarawak Plantation Bhd (SPB) for a cash consideration of RM169.94mil.

The timber and palm oil producer said in its filings yesterday that it had entered into a share sale agreement with Cermat Ceria Sdn Bhd for the proposed acquisition of 84.97 million shares in SPB for RM2 per share.