Saturday June 23, 2012
Louis Dreyfus confirms tie-up with FGVH
PETALING JAYA: Louis Dreyfus Commodities Asia (LDCA) has reached a final agreement with Felda Global Ventures Holdings Bhd (FGVH) on the terms of their strategic partnership.
A statement issued through FGVH said that all necessary approvals from LDCA had been granted, while the final agreement was still subject to approval from the board of directors for FGVH subsidiaries.
The statement said LDCA might reduce its participation in the enlarged issued and paid-up capital of FGVH “in acknowledgment of the strong result of the bookbuilding and demand for the initial public offering (IPO).”
However, a Reuters report, quoting sources, said LDCA was taking a 0.5% stake in FGV, which is due to debut on the Main Market of Bursa Malaysia on Thursday.
FGVH's RM10bil IPO is the second biggest in the world this year, following Facebook Inc's exercise in May.