KUALA LUMPUR – The Federal Land Development Authority (Felda) has acquired an additional 4.63 million shares in FGV Holdings Bhd, excluding treasury shares, in the open market at RM1.30 per unit.
In a statement today, Maybank Investment Bank Bhd, the principal adviser to Felda on its takeover offer for FGV shares, said the units were bought yesterday.
It said the acquisition includes all FGV shares under the long-term incentive plan.
On December 8 last year, Felda announced its intention with regard to a mandatory takeover of FGV’s minority shareholders at RM1.30 per share, should it be able to raise its stake in the firm.
With the shares acquired, Felda, which already had a 21.24% stake in the company, increased the amount to 35.12%. – Bernama, February 4, 2021
