Kuala lumpur: The Federal Land Development Authority’s (Felda) acquisition of a majority stake in FGV Holdings Bhd (FGV) is set to lead to full ownership and restructuring of the company, with Felda settlers poised to benefit from the profits, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi announced. Speaking at the Felda Settlers’ Appreciation Ceremony, he highlighted that the Pahang and Sabah state governments have also become shareholders in FGV after its delisting from the Main Market of Bursa Malaysia.

According to BERNAMA News Agency, the full acquisition process is expected to be finalised by Bursa Malaysia, ensuring that the resulting profits will be channelled to the settlers. In a recent filing with Bursa Malaysia, FGV disclosed that Felda has secured 91.73 per cent of FGV’s total issued shares.

FGV’s shares are anticipated to be suspended from trading five market days after the offer closes, with the deadline being August 15.