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Wilmar to Acquire Natural Oleochemicals

10:41 PM MDT | July 22, 2010 | Deepti Ramesh

Agribusiness company Wilmar International (Singapore) says that its wholly owned subsidiary in Malaysia, PGEO Group has entered into an agreement to acquire 91.38% of Natural Oleochemicals (Natoleo; Pasir Gudang, Malaysia) from Kulim (Johor Bahru, Malaysia) for a cash consideration of RM450 million ($140 million). The transaction is expected to close within 90 days, and is subject to certain conditions including regulatory approvals. Wilmar says it will fund the acquisition through internal sources of funds and bank borrowings. The remaining 8.62% stake in...

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