F&N’s offer for Cocoaland fair, says adviser

Some of Cocoaland's products

PETALING JAYA: Cocoaland Holdings Bhd’s independent adviser, Malacca Securities Sdn Bhd, says the RM1.50 a share cash offer tabled by Fraser & Neave Holdings Bhd (F&N) to privatise Cocoaland is “fair and reasonable” and advised shareholders to vote in favour of resolutions to privatise the company.

In a filing with Bursa Malaysia yesterday, Cocoaland’s board concurred with the findings and also recommended shareholders vote for the privatisation.