FGV shortlists five bidders for Canada's asset

KUALA LUMPUR: Felda Global Ventures Holdings Bhd has shortlisted five bidders for the disposal of its non-profitable canola and soybean crushing and refinery business in Canada.
CEO Datuk Mohd Emir Mavani Abdullah said the company is in final talks with five international firms.
"We're still in discussions, we'll announce the update end of this month. We've agreed to the principal agreement," he told reporters after FGV's Hari Raya open house celebration.
FGV acquired Twin River Technologies-ETGO (TRT-ETGO) in 2007, but it has been badly hit by lower crushing margins in North America.
It has been reported that FGV could fetch US$150 million (RM593.03 million) for the disposal exercise.