FGV says no formal takeover notice received from Felda
KUALA LUMPUR: FGV Holdings Bhd has not received any formal notice from the Federal Land Development Authority (Felda) with regards to a takeover offer, as published in a news report recently.
In a filing with Bursa Malaysia, the company said any matters pertaining to the group's privatisation will be dealt with by its shareholders.
"We wish to clarify that, as of the date of this announcement, FGV has not received any formal notice from Felda pertaining to a takeover offer or any corporate proposal that would lead to the privatisation or delisting of FGV.
"It is important to note that any privatisation initiative is FGV's shareholders' matter and not to be dealt at FGV's level until an official notification in respect of such an exercise be communicated to FGV," it said.
FGV added it will make the necessary announcement in accordance with the listing requirements on Bursa Malaysia if there is any development on the matter.
The clarification from FGV came in response to an article by an English weekly which stated that there were plans by Felda to privatise FGV.
The report said that Felda has hired Maybank Investment Bank Bhd to advise on an exercise that could take place within the next three to four months.
FGV's share price closed unchanged at RM1.22 on Tuesday, valuing the company at RM4.45 billion.
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