Kuala Lumpur Kepong Berhad (KLSE:KLK) agreed to acquire 33% stake in Boustead Plantations Berhad (KLSE:BPLANT) from Lembaga Tabung Angkatan Tentera and Boustead Holdings Berhad for MYR1.1 billion on August 24, 2023. The Purchase Consideration and Offer Price will be funded via a combination of bank borrowings and internally generated funds, the proportion of which will be determined at a later date after taking into consideration, among others, the gearing and operating cash flow requirements of KLK and its subsidiaries. Barring any unforeseen circumstances, the Proposed Acquisition and Proposed Offer are expected to be completed by the 4th quarter of 2023. RHB Investment Bank Berhad has been appointed as financial advisor to KLK for the Proposed Acquisition and Proposed Offer.

Kuala Lumpur Kepong Berhad (KLSE:KLK) cancelled the acquisition of a 33% stake in Boustead Plantations Berhad (KLSE:BPLANT) from Lembaga Tabung Angkatan Tentera and Boustead Holdings Berhad on October 4, 2023.