General Announcement::PROPOSED ACQUISITION OF CREMER OLEO GMBH & CO KG'S OLEOCHEMICAL BUSINESS IN GERMANY

Issuer & Securities

Issuer/ Manager
IOI INVESTMENTS (L) BERHAD
Securities
IOI INVES US$600M4.375%N220627 - XS0792911298 - 2EJB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
10-Sep-2015 12:43:10
Status
New
Announcement Sub Title
PROPOSED ACQUISITION OF CREMER OLEO GMBH & CO KG'S OLEOCHEMICAL BUSINESS IN GERMANY
Announcement Reference
SG150910OTHRLBOG
Submitted By (Co./ Ind. Name)
IOI Corporation Berhad
Designation
Parent Company
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of IOI Corporation Berhad (the holding company of IOI Investment (L) Berhad) has announced that its indirect wholly owned subsidiary, Alstersee 217. V V GmbH (to be renamed as IOI Oleo GmbH in the future) had on 9 September 2015 entered into a conditional asset purchase agreement ("APA") with Cremer Oleo GmbH & Co KG ("Cremer") to acquire Cremer's entire oleochemicals business in Germany for a total purchase consideration of EUR89.4 million (equivalent to approximately RM433.3 million based on the exchange rate of RM4.8459 : EUR1.00), subject to the terms and conditions contained in the APA.

Please refer to the attachment for details of the announcement.

Attachments

Announcement-ProposedAcquisitionofCremer.pdf
Total size =317K