KUALA LUMPUR: FGV Holdings Bhd has announced plans to acquire full ownership of eight subsidiaries, with a total purchase value of RM229.75 million, from Koperasi Permodalan Felda Malaysia Bhd (KPF).
The acquisitions will be executed through share purchases by FGV’s units, FGV Palm Industries Sdn Bhd (FGVPI) and Felda Holdings Bhd (FHB). Both companies have signed conditional share sale agreements to purchase the remaining stakes in subsidiaries that are currently jointly owned with KPF.
Under the agreements:
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FGVPI will acquire the remaining stakes in three companies:
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FGV Kernel Products Sdn Bhd (16.67%),
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FGV Reneries Sdn Bhd (33.33%),
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FGV Marketing Services Sdn Bhd (49%),
for RM54.70 million.
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FHB will acquire the remaining interests in five companies:
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FGV Agri Services Sdn Bhd (23.08%),
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FGV Transport Services Sdn Bhd (49%),
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FGV Security Services Sdn Bhd (49%),
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FGV Prodata Systems Sdn Bhd (20%),
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FGV Rubber Industries Sdn Bhd (28.57%),
for RM175.05 million.
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The acquisitions will be funded through a combination of RM140 million in new borrowings and RM89.7 million from internal funds.
FGV noted that this move will allow the group to streamline its operations, enabling more efficient decision-making and aligning with the company’s strategic direction.
The acquisitions are expected to be completed by the third quarter of 2025, pending shareholder and regulatory approvals. Maybank Investment Bank is serving as the principal adviser, while QuantePhi Sdn Bhd has been appointed as the independent adviser to assess the fairness of the deal to minority shareholders.
— BERNAMA
