Malaysia's Sime Darby completes $1.74 bln New Britain Palm Oil buy

KUALA LUMPUR, March 3 (Reuters) - Sime Darby Plantation Bhd,the plantation arm of Malaysia's conglomerate Sime Darby Bhd, has completed $1.7 billion acquisition of Papua NewGuinea-based New Britain Palm Oil Ltd (NBPOL), thecompany said on late Monday.

The move will add 135,000 hectares of land to Sime DarbyPlantation's total land bank to almost one million hectaresspread out over five countries, according to a statement.

"As a well-managed company with an experienced managementteam, NBPOL will immediately contribute to the bottom line ofSime Darby Plantation," Sime Darby Plantation's managingdirector Franki Anthony Dass said.

(Reporting By Yantoultra Ngui; Editing by Michael Perry)