Boustead-KLK deal terminated with immediate effect on Oct 4

Lembaga Tabung Angkatan Tentera (LTAT), Boustead Holdings Bhd (BHB) and Kuala Lumpur Kepong Bhd (KLK) have agreed not to proceed with KLK’s RM1.15 billion acquisition of a 33 percent stake in Boustead Plantations Bhd (BPlant).

BPlant and KLK said that “the condition precedent under the strategic collaboration agreement (SCA) will not be satisfied by the cut-off date of Oct 6, 2023”.