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NewsSwedish equity firm EQT eyes Cocoaland
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Swedish equity firm EQT eyes Cocoaland
by Cals Sun 05 Apr 2015, 14:30
Swedish equity firm EQT eyes Cocoaland
Friday, 3 April 2015[size=16]KUALA LUMPUR: Cocoaland Holdings Bhd’s major shareholder, Leverage Success Sdn Bhd, is in preliminary discussions with Swedish private equity group EQT for various investment possibilities in Cocoaland.
In a filing with Bursa Malaysia on Friday, the confectionery maker said the possibilities included, but not limited to, acquisition of a majority or controlling interest in Cocoaland, takeover of the company or acquisition of the entire/part of its business operation.
"To date, no definitive and conclusive terms have been agreed upon between the parties," it added.
According to Bloomberg, Leverage Success and Fraser & Neave Holdings Bhd are Cocoaland’s biggest shareholders with 38.04% and 27.19% stakes, respectively.
Cocoaland's statement to Bursa was in response to a report saying EQT might make an offer of RM1.80 per Cocoaland share.
Cocoaland rose 4 sen to close at RM1.94 on Friday.
EQT said on its website that it had raised about 22 billion euros from over 300 global institutional and professional investors. It had invested more than 13 billion euros and currently owns about 60 companies in a variety of industries.
Meanwhile, Cocoaland, through its subsidiaries, is engaged in the manufacture and trading of processed and preserved foods and other related foodstuffs.[/size]
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