FGV: No truth in reports of stake sale to foreign parties

-A +A

KUALA LUMPUR (April 25): Felda Global Ventures Holdings Bhd (FGV) has denied a news report by a local online news portal which alleged that FGV is in talks with three foreign parties which are interested in acquiring a majority stake in the group.

"FGV refers to the article on an online news portal titled 'Activist claims FGV plans to sell shares to foreign companies'.

"There is no truth in this article and none of the allegations made by the individual quoted are based on fact," said FGV group president and chief executive officer Datuk Zakaria Arshad in a statement.

The report, published on FreeMalaysiaToday.com, quoted Persatuan Anak Peneroka Felda Kebangsaan (ANAK) chairman Mazlan Aliman as saying that one of the interested parties had offered a stake in 200,000 ha of land, which could be injected into FGV.

He said the acquiring party will purchase a 51% stake in FGV, adding that he obtained the information from a former officer of Felda and sources from within FGV.

FGV's share price closed unchanged at RM1.70 today, translating to a market capitalisation of RM6.25 billion.