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Friday, February 18, 2011

Sri Lanka Carson unit eyes Malaysian vegetable fats manufacturer

Feb 18, 2011 (LBO) - A Singapore-based unit of Sri Lanka's Carson Cumberbatch conglomerate has made a bid to buy three Malaysian firms manufacturing and exporting specialty and vegetable fats, a stock exchange filing said.

Premium Nutrients Bhd has told Bursa Malaysia, the Malaysian stock exchange, it has received an offer from Agro Asia Pacific, a Carson unit, to buy three of its subsidiaries which makes up its core business for 117.95 million ringgit.

Agro Asia Pacific is a marketing arm of Goodhope Asia Holdings of Singapore, a holding company set up by the Carson group to run its oil palm plantations in Malaysia and Indonesia.

According to the Premium Nutrients stock exchange filing Agro Asia Pacific wants to acquire full control of Arani Agro Oil Industries, Premium Vegetable Oils Sdn Bhd and Premium Fats Sdn Bhd.

Premium Nutrients group makes vegetable and specialty fats and other products for confectionary applications like cocoa butter and chocolate spreads for customers like Cadbury, Nestle, Kraft Foods, Kerry Ingredients (Malaysia) and Bunge (Canada).

source - www.lbo.lk