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PETALING JAYA: Sime Darby Plantation Bhd’s wholly-owned subsidiary Sime Darby Plantation Investment (Liberia) Pte Ltd has completed its disposal of its entire equity interest in Sime Darby Plantation (Liberia) Inc (SDP Liberia) to Mano Palm Oil Industries Ltd for a total cash consideration of US$1 in cash plus an earn-out payment.
According to the group’s Bursa filing, the earn-out payment will be determined by the average future crude palm oil (CPO) price and future CPO production of SDP Liberia, which will be payable quarterly over a period of 8 years from April 2023.
Following the disposal, Sime Darby Plantation stated that SDP Liberia ceased to be an indirect subsidiary company of SDP.
Notwithstanding the disposal, the group said that it will continue to serve its business-to-business and business-to-customer multinational customers in Africa.
