Stocks News
- Bank to buy stake in palm oil producer
Date: 27-Nov-2007 Sources: (Shenzhen Daily)
A MAJOR Chinese commercial bank is planning to buy a 15.4 percent stake in Malaysian palm oil producer Ladang Perbadanan-Fima Bhd. from Kuala Lumpur Kepong Bhd., the Edge Financial Daily reported yesterday, quoting unnamed sources.
The unnamed bank is in the final stage of negotiations with Kuala Lumpur Kepong, the paper said. The Chinese bank is on a regional acquisition trail of plantation assets, and could use Ladang as a vehicle for further acquisitions of plantations companies in Malaysia and Indonesia, the paper added.
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