Thursday 28 Mar 2024
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KUALA LUMPUR (April 18): Can-One Bhd today said it has not received any formal proposal or offer from any party expressing interest to acquire equity interest in its wholly-owned dairy manufacturing unit, F&B Nutrition Sdn Bhd.

However, it confirmed that it has been approached by a number of parties including Kumpulan Wang Persaraan (Diperbadankan) (KWAP) expressing interest to acquire a stake in its dairy manufacturing business.

"Can-One wishes to clarify that the company will always consider and explore all potential opportunities and/or corporate proposals involving the businesses of Can-One Group of Companies including F&B Nutrition, in the best interest of Can-One and its shareholders," it said in a filing with Bursa Malaysia today.

"However, Can-One wishes to further clarify that no formal proposal or offer in respect of F&B Nutrition has been received from any party as at to date," it added.

Can-One said it will make the appropriate announcement to Bursa should there be any material development on its equity interest in F&B Nutrition which warrants disclosure.

News reports have quoted KWAP chief executive officer Datuk Wan Kamaruzaman Wan Ahmad as saying that the pension fund was in the final stages of completing an acquisition of a 30% stake in F&B Nutrition.

He reportedly said KWAP was expected to pay RM280 million for the stake in F&B Nutrition.

This follows an announcement by Kian Joo Can Factory Bhd on April 15 that the RM1.47 billion takeover offer by Aspire Insight Sdn Bhd for Kian Joo Group had fallen through due to a pricing issue.

Aspire Insight is owned by former Can-One chief operating officer Chee Kay Leong and the Employees Provident Fund via its unit Ekuiti Merdu Sdn Bhd at a 60:40 ratio, respectively.

A separate filing today showed that investor Koon Yew Yin has emerged as a substantial shareholder of Can-One, acquiring 15.96 million shares or an 8.305% stake in the group on April 1.

Can-One shares closed unchanged at RM4.04 today, giving it a market capitalisation of RM776.29 million.
 

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