PETALING JAYA: Sime Darby Plantation Bhd (SDP) has received approval from the group’s board to divest its 100% equity stake in Sime Darby Plantation Liberia Inc to Mano Palm Oil Industries (MPOI).
According to its Bursa filing, the government of Liberia has also consented to the divestment.
SDP explained that the decision is part of its current asset monetisation exercise, which
includes the divestment of underperforming assets or assets that have achieved its full value potential for disposal.
“SDP is currently working together with MPOI in finalising of this divestment exercise via a sale & purchase agreement which is targeted to be signed by the end of 2019,” it said.
The transaction is estimated to be completed in the first quarter of 2020.
Source: The Sun Daily