Lembaga Tabung Angkatan Tentera made an offer to acquire 33% stake in Boustead Plantations Berhad (KLSE:BPLANT) for MYR1.1 billion on October 4, 2023. Lembaga Tabung Angkatan Tentera signed an agreement to acquire 33% stake in Boustead Plantations Berhad (KLSE:BPLANT) for MYR1.1 billion on November 10, 2023. The Offeror has confirmed that it has sufficient financial resources to satisfy full acceptance of the Offer.

The Offeror has also confirmed that the Offer would not fail due to insufficient financial capability, and that every Accepting Holder will be paid fully in cash. UOB Kay Hian Securities (M) Sdn Bhd and Maybank Investment Bank Berhad acted as advisors to Lembaga Tabung Angkatan Tentera. Munir Abdul Aziz of Baker McKenzie acted as legal advisor to Lembaga Tabung Angkatan Tentera.