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Can-One Receives Offer for Dairy Product Unit

04 June 2019

MALAYSIA - Can-One Bhd has received a letter of offer from private equity firm Southern Capital Group Pte Ltd to acquire its wholly-owned dairy product manufacturing arm F & B Nutrition Sdn Bhd for an indicative price of between RM800 million and RM1 billion.

Southern Capital's special-purpose vehicle Asia Dairy Creations Sdn Bhd made the conditional offer yesterday to take over the original equipment manufacturer of sweetened creamer and evaporated creamer, Can-One said in a filing with Bursa Malaysia.

Can-One itself recently completed a takeover exercise, gaining full control of Kian Joo Can Factory Bhd.

The offer will remain open until 5 pm tomorrow, after which it will lapse automatically.

Can-One said its board would deliberate on the offer and would make an announcement on its decision in due course.

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Source: Bernama.com

TheCattleSite News Desk



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