MARKET UPDATES :
SIME Darby Bhd will be satisified with having only a 51 per cent controlling stake in New Britain Palm Oil Ltd (NBPOL), which will allow it to secure control of the latter at the shareholder, board and management levels, says its president and group chief executive Tan Sri Mohd Bakke Salleh. He said the conglomerate was also willing to allow the Papua New Guinea (PNG) government to raise its stake in NBPOL to 30 per cent from 18 per cent upon conclusion of its takeover of NBPOL in a deal worth £1.07 billion (RM5.63 billion). The acquisition is expected to be completed by December 19.Sime Darby had on October 9 announced an offer to buy all of NBPOL shares through unit Sime Darby Plantation Sdn Bhd as part of the requirement to obtain a minimum 51 per cent of the voting rights in the global producer of sustainable palm oil.
STOCK RECOMMENDATION :
BUY GENTING PLANTATIONS ABOVE 10.50 TGT 10.70 ,11 SL 10.25
SIME Darby Bhd will be satisified with having only a 51 per cent controlling stake in New Britain Palm Oil Ltd (NBPOL), which will allow it to secure control of the latter at the shareholder, board and management levels, says its president and group chief executive Tan Sri Mohd Bakke Salleh. He said the conglomerate was also willing to allow the Papua New Guinea (PNG) government to raise its stake in NBPOL to 30 per cent from 18 per cent upon conclusion of its takeover of NBPOL in a deal worth £1.07 billion (RM5.63 billion). The acquisition is expected to be completed by December 19.Sime Darby had on October 9 announced an offer to buy all of NBPOL shares through unit Sime Darby Plantation Sdn Bhd as part of the requirement to obtain a minimum 51 per cent of the voting rights in the global producer of sustainable palm oil.
STOCK RECOMMENDATION :
BUY GENTING PLANTATIONS ABOVE 10.50 TGT 10.70 ,11 SL 10.25
No comments:
Post a Comment