KUALA LUMPUR (Sept 11): Kuala Lumpur Kepong Bhd (KLK) has entered into a letter of agreement with Boustead Holdings Bhd (BHB) and the Armed Forces Fund Board (LTAT) to agree for the cut-off date for a strategic collaboration agreement (SCA) to be Sept 22 or such other date as may be agreed in writing between KLK, BHB and LTAT.

In a filing on Monday, KLK said all the other provisions contained in the SCA shall remain unchanged and be in full force and effect.

KLK on Aug 24 announced a plan to acquire a 33% stake plus one share in Boustead Plantations Bhd (BPlant), buying the shares from the Armed Forces Fund Board (LTAT) and its flagship, the recently privatised BHB.

KLK will pay RM1.55 per share or RM1.15 billion in cash to LTAT and BHB and undertake a mandatory general offer.

The plan is for KLK to own 65% of BPlant, while LTAT and BHB will control the remaining 35%.

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