F&N to acquire Sri Nona units for RM60mil cash

Expansion plan: F&N’s new headquarters in Fraser Business Park. Its acquisition of the Sri Nona units is expected to be completed in the first quarter of 2021.

PETALING JAYA: Fraser & Neave Holdings Bhd’s (F&N) wholly-owned subsidiary Awana Citra Sdn Bhd has proposed to acquire the entire equity interest in three companies under the Sri Nona group for RM60mil cash.

In a filing with Bursa Malaysia, F&N said Awana Citra had on Dec 13 entered into a conditional share sale agreement with Siew Yun Sing and Tong Saw Man (vendors), in relation to the proposed acquisition.