PPB Group Berhad (KLSE:PPB) has denied it was in discussion with FGV Holdings Berhad (KLSE:FGV) to acquire a stake in the MSM Malaysia Holdings Berhad (KLSE:MSM). PPB group Managing Director Lim Soon Huat said the group has not approached FGV over any stake acquisition despite the latter is looking for a strategic partner and investor. It was reported that FGV, which owns a 51% stake in the country's largest refined sugar producer, is seeking a
partner to strengthen MSM's business. A news report had suggested that FGV is talking to a few potential suitors. The news of a potential stake
acquisition of FGV's stakes in MSM drove the share prices of both companies.