IN BRIEF: MP Evans Agrees Sale Of Land In Malaysia For USD23.5 Million

MP Evans Group PLC - Indonesian palm oil producer - Agrees to dispose 70 hectares of land in ...

Alliance News 20 July, 2020 | 8:01PM
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MP Evans Group PLC - Indonesian palm oil producer - Agrees to dispose 70 hectares of land in Malaysia for USD23.5 million, in line with the valuation in its 2019 annual report. The proceeds will support investment in its Indonesian oil palm projects. The sale consideration will be paid in cash over a three-year period, with a 10% deposit on signing the agreement lodged with the group's solicitor, 50% of the consideration to be paid after satisfaction of the sale conditions, a further 10% in January 2022 and the balance in July 2023. This disposal is in line with MP Evans's strategy to realise its Malaysian assets for investment in new oil palm projects.

Current stock price: 525 pence

Year-to-date change: down 28%

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
M P Evans Group PLC 570.00 GBX -1.72 -

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