KUALA LUMPUR: The Armed Forces Fund Board's (LTAT) offer to acquire Boustead Plantations Bhd (BPlant) is still ongoing, pending approvals.
LTAT said it will make an announcement with regards to the acquisition, as and when required in accordance with the requirements by the Securities Commission (SC) or other relevant authorities.
"In accordance with subparagraph 9.07(2) of the Rules on Take-overs, Mergers and Compulsory Acquisition issued by the SC, we wish to inform that our efforts to implement the possible offer remains ongoing, subject to the requisite approvals," LTAT said today.
LTAT had made a general offer for shares it does not own in BPlant at an offer price of RM1.55 each.
This followed the collapse of a RM1.15 billion deal to sell a 33 per cent stake in BPlant to Kuala Lumpur Kepong Bhd.
LTAT and Boustead Holdings Bhd own 68 per cent in BPlant.
