KLK acquires more than 90% stake in two oil palm firms for RM276.55mil.

PETALING JAYA: Kuala Lumpur Kepong Bhd (KLK) and its Singapore-incorporated wholly-owned subsidiary, KLK Plantations and Trading Pte Ltd, are acquiring more than a 90% stake in two Indonesian oil palm companies for a combined RM276.55mil.

In a filing with Bursa Malaysia, KLK said it is acquiring the stakes in the two companies from Whitmore Holdings Sdn Bhd, a wholly-owned subsidiary of Batu Kawan Bhd (which has a 47.72% stake in KLK).