EPO shares soar after approach from palm oil giant

http://www.farmlandgrab.org/post/view/22684-epo-shares-soar-after-approach-from-palm-oil-giant Shares in Equatorial Palm Oil soared  40% after the palm oil minnow revealed it was in talks over a takeover by Malaysia-based giant Kuala Lumpur Kepong, which would gain a foothold in Africa through a deal.  Shares in Equatorial Palm Oil – which in September admitted “material uncertainty” over its future thanks to funding difficulties at a joint venture with Biopalm Energy – touched 7.0p in early deals on Tuesday.  The jump, to a level which valued the group at £14m, followed the announcement that it “is in early stage discussions” over a deal with Kuala Lumpur Kepong, the Kuala Lumpur-listed vegetable oils and property leviathan with a stockmarket valuation of £4.8bn ($7.7bn)…

A July 2013 report by Bloomberg investigated labour exploitation on KLK’s plantations in Indonesia.

 

 

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