Can-One receives offer up to RM1b for dairy product unit

 Publish date: Mon, 3 Jun 2019, 9:01 PM

KUALA LUMPUR: Can-One Bhd has received a letter of offer from private equity firm Southern Capital Group Pte Ltd to acquire its wholly-owned dairy product manufacturing arm F & B Nutrition Sdn Bhd for an indicative price of between RM800 million and RM1 billion.
Southern Capital’s special-purpose vehicle Asia Dairy Creations Sdn Bhd made the conditional offer today to take over the original equipment manufacturer of sweetened creamer and evaporated creamer, Can-One said in a filing with Bursa Malaysia.
Can-One itself recently completed a takeover exercise, gaining full control of Kian Joo Can Factory Bhd.
The offer will remain open until 5 pm tomorrow, after which it will lapse automatically.
Can-One said its board would deliberate on the offer and would make an announcement on its decision in due course.
Southern Capital focuses on control buyout of high-growth middle market businesses in Southeast Asia, .
Can-One said none of its directors, major shareholders or persons connected with them had any interest in the offer, whether directly or indirectly.
Can-One shares closed unchanged today at RM3.43.
 - Bernama
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