According to a filing with Bursa Malaysia, SIPEF acquired an additional 10% stake in Verdant Bioscience from Ultra while AVH bought 42%.
Incorporated in Singapore, Verdant Bioscience is principally engaged in the research and development of life sciences and biotechnology in the plantation science, plant breeding and seed production.
The company also provides management services to its 94%-owned subsidiary PT Timbang Deli.
The disposal is not expected to have any material effect on earnings, consolidated net assets and consolidated gearing for the financial year ending Dec 31, 2020, said Sime Darby Plantation.
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