Eversheds advises Kuala Lumpur Kepong Berhad on cash offer for EPO

Eversheds has advised Malaysia’s third-largest listed plantation company, Kuala Lumpur Kepong Berhad (KLK), on a $21.3m (£13m) cash offer for Equatorial Palm Oil (EPO), which will enable it to gain a foothold in Liberia’s palm oil sector.

KLK had originally acquired a 20.1 per cent stake in London-listed EPO and a 50 per cent stake in Liberian Palm Developments, both from Singaporean palm oil producer and exporter Biopalm Energy, and subsequently provided short-term finance to EPO. This led to KLK subscribing for further equity in EPO, taking its stake above 50 per cent, resulting in KLK making a mandatory offer for the remaining shares in EPO.

The Eversheds team was led in the UK by partners Robin Johnson and Steve Nash, assisted by associate Ben Von Maur and partner Boris Martor from the firm’s Paris office. Director Sze-Hui Goh advised from the firm’s Singapore office.