Halal Industry 

Malaysia: Can-One receives offer up to RM1b for dairy product unit

| 03 June, 2019

JUNE 3, 2019 | 9:01PM MYT | KUALA LUMPUR

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 today 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.

Southern Capital focuses on control buyout of high-growth middle market businesses in Southeast Asia, .

Can-One said none of its directors, major shareholders or persons connected with them had any interest in the offer, whether directly or indirectly.

Can-One shares closed unchanged today at RM3.43.

Copyright New Straits Times