FGV evaluating Perspective Lane’s bid to become shareholder

 

FGV Holdings tells Bursa Malaysia it is evaluating the proposal from Perspective Lane, which is linked to tycoon Syed Mokhtar Albukhary.

KUALA LUMPUR: FGV Holdings Bhd will explore and evaluate Perspective Lane (M) Sdn Bhd’s proposal to be potentially its largest shareholder.

In a filing with Bursa Malaysia today, the plantation company disclosed that it had received Perspective Lane’s expression of interest via a letter dated Oct 12 to be a shareholder via an injection of plantation assets into FGV for share consideration.

On completion, Perspective Lane could potentially become its single largest shareholder, FGV said.

“The board wishes to assure shareholders and key stakeholders that it will discharge its fiduciary duty in any such deliberation and we shall make further announcements if there are any further material developments in respect of this matter,” the company said.

A business weekly, quoting sources, reported in September last year that Syed Mokhtar Albukhary, who owns Perspective Lane through privately-held Restu Jernih Sdn Bhd, was keen on buying a 20% stake in FGV.

At the close today, FGV shares were down by 0.93% to RM1.07. - FMT