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M.p. Evans Share News (MPE)
Share News for M.p. Evans (MPE)
| Share Price: 515.00 | Bid: 515.00 | Ask: 525.00 | Change: 0.00 (0.00%) |  | ||||||
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MP Evans Group sells 828.6 hectare Malaysian estate for 10.25 mln stg cash
Wed, 15th Aug 2007 11:13
LONDON (Thomson Financial) - MP Evans Group PLC said it has sold its 828.6 hectares Sungei Kru
The producer of Indonesian palm oil and Australian beef cattle said the sale is subject to approval from the Foreign Investment Committee and Estate Land Board of Malaysia.
It expects to get clearances within about nine months and complete the deal within a further three months.
'We have now sold more than half of our Malaysian portfolio, in value terms, which means that we are very well placed for our substantial Indonesian palm-oil expansion,' joint managing director Peter Hadsley-Chaplin said in a statement.
TFN.newsdesk@thomson.com
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COPYRIGHT
Copyright AFX News Limited 2007. All rights reserved.
The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
LONDON (Thomson Financial) - MP Evans Group PLC said it has sold its 828.6 hectares Sungei Kru
it Estate, which is located north of Kuala Lumpur, Malaysia, for 10.25 mln stg in cash, taking the total value of funds it has raised to 38 mln stg.
The producer of Indonesian palm oil and Australian beef cattle said the sale is subject to approval from the Foreign Investment Committee and Estate Land Board of Malaysia.
It expects to get clearances within about nine months and complete the deal within a further three months.
'We have now sold more than half of our Malaysian portfolio, in value terms, which means that we are very well placed for our substantial Indonesian palm-oil expansion,' joint managing director Peter Hadsley-Chaplin said in a statement.
TFN.newsdesk@thomson.com
ssr/bsd
COPYRIGHT
Copyright AFX News Limited 2007. All rights reserved.
The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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