Cocoaland pursues "investment possibilities" with EQT

PETALING JAYA: Cocoaland Holdings Bhd has confirmed that its major shareholder Leverage Success Sdn Bhd is in preliminary discussions with Swedish private equity group EQT for various investment possibilities.
Responding to a news report last Friday, the confectionary manufacturer told Bursa Malaysia that the investment is not limited to acquisition of a majority or controlling stake, takeover exercise or acquire the entire or part of Cocoaland's business operation.
"To date, no definitive and conclusive terms have been agreed upon between the parties. An appropriate announcement will be made by the company in due course should the propose investment by EQT materialises," it said.
The report quoted sources as saying that EQT could launch for Cocoaland at an offer price of RM1.80 per share, giving it a price tag of RM309 million.
Leverage Success owns a 38.04% stake in Cocoaland, while Fraser & Neave Holdings Bhd with 27.19%.