KUALA LUMPUR (Dec 15): Fraser & Neave Holdings Bhd (F&N) has announced that it will buy the entire issued share capital of three food and beverage (F&B) companies Sri Nona Food Industries Sdn Bhd, Sri Nona Industries Sdn Bhd and Lee Shun Hing Sauce Industries Sdn Bhd for RM60 million in cash.
According to a filing with the local stock exchange today, F&N’s direct wholly-owned subsidiary Awana Citra Sdn Bhd had on Dec 13, 2020 entered into a conditional share sale agreement (SSA) with vendors Siew Yun Sing and Tong Saw Man for the proposed acquisition, which will be funded via the company’s internally generated funds.