Ackermans & Van Haaren NV (ENXTBR:ACKB) and Sipef NV (ENXTBR:SIP) signed an agreement to acquire 52% stake in Verdant Bioscience Pte Ltd from Sime Darby Plantation Berhad (KLSE:SIMEPLT) for $8.7 million on May 29, 2020. Under the terms of transaction, Ackermans & Van Haaren will acquire 42% stake whereas SIPEF will increase its stake by 10% to 48% stake in VBS for $7 million and $1.7 million respectively. This transaction has the full consent of BioSing, and its representatives, Bryan Dyer and Stephen Nelson, remain in office respectively as chairman and managing director of VBS.

For Ackermans & van Haaren, this acquisition is a strategic long-term investment in line with its 34.7% interest in SIPEF. As a solid reference shareholder of SIPEF, Ackermans & van Haaren sustainably contributes to the development of a successful future for the group in the palm oil industry.