KUALA LUMPUR: Kuala Lumpur Kepong Bhd (KLK) has agreed with Boustead Holdings Bhd and the latter's parent Armed Forces Fund Board (LTAT) on Sept 22 being the cut-off date for their strategic collaboration agreement (SCA) involving Boustead Plantations Bhd.
The three parties entered into a letter of agreement on the Sept 22 deadline or such other date as may be agreed in writing, KLK said in a statement today.
All the other provisions contained in the SCA will remain unchanged and be in full force and effect.
On Aug 24, KLK announced its proposal to acquire 739.2 million shares in BPlant, representing 33 per cent and one share of the total issued shares of the plantations arm from Boustead.
The proposed acquisition is for a cash consideration of RM1.15 billion or RM1.55 per share.
The deal is expected to be completed by the fourth quarter of 2023.