Fraser & Neave (KLSE:F&N) signed a share purchase agreement to dispose of its entire 50% stake in Vacaron to Tan & Tan Developments for 180 million ringgit, according to a Friday filing with Bursa Malaysia.
The consideration will be paid in two tranches with 75% of the consideration due in cash on completion.
The disposal unlocks value from non-core property assets, with the food and beverage company focusing on its regular operations.
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