FGV Holdings Bhd (FGV) has received an unconditional voluntary takeover offer from the Federal Land Development Authority (Felda), aimed at acquiring all remaining shares in the plantation and agribusiness company not already under its control.
According to a notice issued by Maybank Investment Bank Bhd on behalf of Felda, the offer proposes a cash consideration of RM1.30 per share for all outstanding ordinary shares of FGV.
As of 20 May 2025, FGV’s total issued share capital stood at RM7.02 billion, comprising 3.64 billion ordinary shares and one special share held by the Minister of Finance Incorporated (MOF Inc). Felda currently owns 69.50% of FGV, amounting to 2.53 billion shares.
With this new offer, Felda and its parties acting in concert (PACs) would collectively control 86.93% of the company.
The PACs involved include:
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Felda Asset Holdings Company Sdn Bhd, a wholly-owned subsidiary of Felda;
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The Pahang state government;
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Koperasi Kakitangan Felda Malaysia Bhd, whose board comprises Felda management;
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Sulong Jamil Shariff and Salina Samsudin.
The offer will be formalised through an offer document detailing the terms, conditions, and acceptance procedures. This document will be dispatched to shareholders once the Securities Commission (SC) confirms it has no further comments on its contents.
The move signals Felda’s continued strategic effort to consolidate control of FGV, following previous initiatives to strengthen its position in the company.
The offer will remain open for acceptance for a minimum of 21 days from the date the document is posted. Felda reserves the right to extend the offer period, with any changes to the closing date to be announced by Maybank Investment Bank at least two days in advance.
Should Felda decide to withdraw the offer, it may only do so with written consent from the SC, in which case all obligations under the offer would be nullified.–FMT
