MARKET DEVELOPMENT
Ta Ann To Acquire Stake In Agrogreen Ventures For RM211.14 Million
Ta Ann To Acquire Stake In Agrogreen Ventures For RM211.14 Million
25/10/2016 (Bernama) - Ta Ann Holdings Bhd will acquire the entire equity interest in Agrogreen Ventures Sdn Bhd for RM211.14 million.
In a filing to Bursa Malaysia today, the integrated timber player said the funding for the proposed acquisition was expected to be mainly from internally-generated funds and partially bank borrowing.
"The proposed deal is in line with the group's plan to expand its oil palm plantation land bank in Sarawak.
"This acquisition is expected to be completed during the first half of next year," it said.
Agrogreen Ventures is involved in the development of oil palm plantation owner of the 5,280 hectares oil palms in Lundu, Sarawak.
In a filing to Bursa Malaysia today, the integrated timber player said the funding for the proposed acquisition was expected to be mainly from internally-generated funds and partially bank borrowing.
"The proposed deal is in line with the group's plan to expand its oil palm plantation land bank in Sarawak.
"This acquisition is expected to be completed during the first half of next year," it said.
Agrogreen Ventures is involved in the development of oil palm plantation owner of the 5,280 hectares oil palms in Lundu, Sarawak.