Malaysia firms ink $8.5bn palm oil merger

25 January 2007 03:46  [Source: ICIS news]

SINGAPORE (ICIS news)--Three Malaysian companies involved in a $8.5bn proposal to create the world’s largest listed palm oil entity on Wednesday inked agreements launching the merger.

Golden Hope Plantation, Kumpulan Guthrie and Sime Darby signed agreements to sell all their assets and liabilities to Synergy Drive, the merger vehicle.

The deal is expected to be completed by the fourth quarter, after which it will be listed on the Malaysian bourse.

Synergy Drive will have a combined market capitalisation of Malaysia ringgit (M$) 38.4bn ($11.0bn) according to current share prices, company officials said, making it Malaysia’s third-largest listed firm.

($1 = M$3.5)

By: Jeanne Lim
+65 6780 4359

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