You are here

Malaysia Sime Darby says wins EC nod for US$1.74b New Britain Palm Oil buy

ALsimedarby.jpg
Malaysia's Sime Darby Bhd, the world's top oil palm planter by land size, said on Wednesday it had obtained the European Commission's approval to buy New Britain Palm Oil Ltd for about US$1.74 billion.

[KUALA LUMPUR] Malaysia's Sime Darby Bhd, the world's top oil palm planter by land size, said on Wednesday it had obtained the European Commission's approval to buy New Britain Palm Oil Ltd for about US$1.74 billion.

Sime Darby said in a stock exchange filing the clearance was obtained on Tuesday.

The company had announced in October the proposed acquisition with a view to adding high yielding plantations that can immediately boost its earnings.

REUTERS