Quick take: Can-One shares up 3.5% on disposal of F&B Nutrition


KUALA LUMPUR: Shares of Can-One Bhd rose this morning, after the company accepted the offer to sell its subsidiary F&B Nutrition Sdn Bhd for up to RM1bil.


The can manufacturer rose 3.5%, or 13 sen to RM3.84 with 1.2 million shares traded.


Can-One’s board has accepted the takeover offer for its subsidiary  F&B Nutrition Sdn Bhd from Asia Dairy Creations Sdn Bhd (ADCSB) valued at between RM800mil and RM1bil.


“The offer will be subject to a definitive agreement and other ancillary agreements being entered into between Can-One and ADCSB within 30 days from the date of acceptance of the offer, with an automatic extension for a further period of 30 days, or such further extension of time as the parties may mutually agree,” it said.


The offer entailed the acquisition by ADCSB of the entire issued share capital of F&B Nutrition from Can-One at an indicative consideration of between RM800mil and RM1bil.


F&B Nutrition makes dairy and non-dairy products and is an original equipment manufacturer of sweetened creamer and evaporated creamer.


F&B Nutrition makes dairy and non-dairy products and is an original equipment manufacturer of sweetened creamer and evaporated creamer.


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