KLK, BHB and LTAT agree on Sept 22 cut-off date for BPlant deal

KLK will acquire 739.2 million shares or a 33% plus one share stake in Boustead Plantations for a cash consideration of RM1.15 billion.

PETALING JAYA: Plantation group Kuala Lumpur Kepong Bhd has signed a letter of agreement with Boustead Holdings Bhd and the Armed Forces Fund Board to set the cut-off date for a strategic collaboration agreement on Sept 22, or any other date that they may mutually agree upon in writing.

Under the agreement, KLK is expected to own 65% of Boustead Plantations Bhd while LTAT and BHB will control the remaining 35%.

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