KUALA LUMPUR: Kuala Lumpur Kepong Bhd (KLK) is undertaking an unconditional voluntary take-over offer to acquire the remaining 40.24 million shares in KLK Sawit Nusantara Bhd.
The proposed cash offer for each share is set at RM3.42, KLK said in filing with Bursa Malaysia today.
As at Jan 31 this year, KLK Sawit has an issued share capital of RM922.53 million comprising 880.58 million shares, of which KLK holds 840.34 million shares, representing a 95.43 per cent stake.
Citadel Multi-Asset Master Fund Ltd currently owns 36.38 million shares, which constitute about 4.13 per cent equity in KLK Sawit.
Citadel Multi-Asset has made an irrevocable commitment to KLK, agreeing to accept or ensure the acceptance of the proposed takeover offer for all of its shares.
At the time of writing, KLK share price rose 0.54 per cent to RM22.14.