KUALA LUMPUR, March 8 — FGV Holdings Bhd (FGV) has no plans to pursue Perspective Lane (M) Sdn Bhd’s proposal to be its largest shareholder.
“FGV wishes to announce that this proposition will not be pursued any further due to the unconditional mandatory take-over from Maybank Investment Bank Bhd (Maybank IB) on behalf of Federal Land Development Authority (Felda) to acquire all the remaining ordinary shares in FGV which are not held by the Offeror and its persons acting in concert,” it said in a filing with Bursa Malaysia today.
On October 15, 2020 the plantation company disclosed that it had received Perspective Lane’s expression of interest to be a shareholder via an injection of plantation assets into FGV for share consideration. Had the deal been considered, Perspective Lane would potentially become its single largest shareholder.
Meanwhile, Felda notified Bursa Malaysia in another filing that it has acquired another 2 million shares in FGV from the open market at RM1.30 per share.
Maybank IB, the principal adviser to Felda on its takeover offer for FGV shares said the latter were purchased on Thursday, March 5. — Bernama
