Koperasi Permodalan Felda Malaysia Bhd (KPF) has approved the proposal to sell 112,199,999 ordinary shares of RM1.00 each or 51 percent equity stake in Felda Holdings Bhd (FHB) not already owned by Felda Global Ventures Holdings Bhd (FGV).

The proposal, approved by KPF delegates at the extraordinary general meeting held on Oct 27, represents a consideration of RM2.2 billion or RM19.61 per share to be satisfied in cash, FGV said in its filing to Bursa.

- Bernama