Sime Darby sells loss making Liberia business for US$1
Kuala Lampur, Jan. 16 -- Sime Darby Plantation Berhad (SDP) today announced the sale and cessation of its loss-making Liberia business, Sime Darby Plantation (Liberia) Inc (SDPL), to Mano Palm Oil Industries Limited (MPOI), for US$1 (RM4.06).
In a statement today, SDP said that under the sales and purchase agreement (SPA), SDP's entire equity in SDPL was sold to MPOI for a total cash consideration of US$1 plus an Earn-Out p+Payment sum, 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 April 2023," SDP said.
SDP's Group Managing Director Mohamad Helmy ...
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