Kuala Lumpur Kepong to buy peer Boustead Plantations -media

SINGAPORE/KUALA LUMPUR: Malaysian palm oil firm Kuala Lumpur Kepong is buying a stake of more than 30% in smaller peer Boustead Plantations from conglomerate Boustead Holdings, local media The Edge and New Straits Times reported on Thursday.

Shares of Boustead Plantations, which has a market capitalisation of 3 billion ringgit ($646.27 million), were suspended from trading on Thursday pending an announcement.