- Felda Global Ventures Holdings (FGV) has proposed to acquire a 55 percent stake in Zhong Ling Nutril-Oil Holdings, for RM975.3 million.
- Zhong Li is involved in the production of edible peanut and vegetable oil and wholesale of edible oil-related pre-packaged food, among others.
- Based on audited results for the financial year ending 31 December 2013, profit after tax and minority interest and net assets of Zhong Ling are about RM144.4 million and RM573.6 million respectively.
Significance: The proposed acquisition is said to be in line with the FGV’s global strategic blueprint of increasing the downstream capabilities in destination markets and is expected to expand its oils and fats capabilities in China. Additionally, the group is also expected to benefit from future growth in sales and distribution networks.