Sime Darby Finally Shuts Down; Leaves Liberia
Monrovia, Jan. 17 -- Sime Darby Plantation Berhad (SDP), today announces the completion of sale of its entire 100% equity interest in Sime Darby Plantation (Liberia) Inc. (SDPL) to Mano Palm Oil Industries Limited (MPOI). The Bursa Malaysia filing follows an earlier press statement in December 2019 that a Sale & Purchase Agreement (SPA) of the asset was being finalized.
Under the SPA, SDP's entire equity in SDPL was sold to MPOI for a total cash consideration of US$1 plus an Earn-Out Payment, the sum of which will be determined by the average future crude palm oil (CPO) price and future CPO production of SDPL in year 2022. The earn-out consideration is payable in equal quarterly instalments over a period of eight (8) years, commencing Ap...
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