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Sime Darby Mulls Sale of Stake in $1.7 Billion PNG Arm

  • Company explores options for New Britain Palm Oil holding
  • Malaysian firm considers divesting 25% to 49% stake in unit

Sime Darby Plantation Bhd., Malaysia’s biggest listed palm oil producer, is exploring a sale of a minority stake in its Papua New Guinea unit, people familiar with the matter said.

Sime Darby Plantation has asked potential advisers for proposals on options for its New Britain Palm Oil Ltd. subsidiary, according to the people. The Malaysian firm, based on the outskirts of Kuala Lumpur, is considering selling 25 percent to 49 percent of the business, the people said, asking not to be identified because the information is private. Sime Darby Plantation has spoken with some prospective buyers to gauge their interest in the stake, one of the people said.