Sime Darby 'the chosen one' to bid for NBPOL shares

PETALING JAYA: Sime Darby Bhd yesterday announced that it is the preferred bidder for Kulim (Malaysia) Bhd's 49% stake in New Britain Palm Oil Ltd (NBPOL).
"Kulim has now entered into exclusive discussions with Sime Darby to finalise the terms of the transaction," Sime Darby said in a filing with Bursa Malaysia.
According to a filing by Kulim with the stock exchange, the two parties have 60 days to finalise the deal.
It was previously reported that big names such as Felda Global Ventures Holdings Bhd and Singapore-based Wilmar International were also eyeing NBPOL shares.
Kulim first acquired NBPOL in 1996 when it was a small plantation company with 18,000ha of oil palm.
NBPOL now owns 77,000ha of oil palm plantations in PNG and the Solomon Islands, 12 palm oil mills and one refinery each in PNG and Liverpool.
It is also the largest sugar and beef producer in PNG through its over 7,700ha of sugar cane plantations and 9,200ha of grazing pastures, as well as a seed production and palm breeding facility.