F&N proposes to acquire remaining stake in Cocoaland for RM488.15mil

KUALA LUMPUR: Fraser & Neave Holdings Bhd (F&N) has proposed to acquire the entire equity interest in Cocoaland Holdings Bhd it does not already own for RM488.15mil or RM1.50 a share.

In a filing with Bursa Malaysia, F&N said the proposed privatisation, which is to be undertaken by way of members' scheme of arrangement, will involve the acquisition of 325.41 million Cocoaland shares held by the scheme shareholders, or about 72.34% of the share capital of the company.