SOPB to buy remaining 40% in SOP Sabaju

SOPB now has a 60% stake in SOP Sabaju.

KUALA LUMPUR: Sarawak Oil Palms Bhd (SOPB) has proposed to acquire the remaining 40% stake in SOP Plantations (Sabaju) Sdn Bhd (SOP Sabaju) for RM45.88mil.

SOPB now has a 60% stake in SOP Sabaju.

In a filing with Bursa Malaysia, SOPB said it has entered into a conditional share sale agreement with Shin Yang Holding Sdn Bhd (SYHSB) to acquire 40% equity interest in SOP Sabaju.

“The proposed acquisition of SOP Sabaju involves the acquisition of the remaining 6.2 million ordinary shares in SOP Sabaju not already held by SOPB.

“The equity interest shall be acquired by SOPB from SYHSB free from all claims, charges, liens and encumbrances together with all the rights attached thereto, and all dividends, rights, and distributions, declared, paid or made in respect thereof, from the date of completion, ” it said.

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