# Fine Organic Industries to acquire 80% stake in Oleofine Organics for MYR 34.2 million

Fine Organic Industries Limited signed a letter of intent to acquire an 80% stake in Oleofine Organics Sdn. Bhd. from Smoothex Chemicals Pvt Ltd and other shareholders for MYR 34.2 million. The deal was signed on May 19, 2026, and share transfer agreements were executed on September 2, 2026.

- Type: Acquisition
- Announced: 2026-05-18
- Where: Malaysia
- Value: $7.70M (34.2M MYR)
- Status: announced
- Products: specialty chemicals, organic chemicals
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Fine Organic Industries](https://endata.com/companies/32617.md) (acquirer)
- [Oleofine Organics](https://endata.com/companies/92002.md) (target)
- [Smoothex Chemicals](https://endata.com/companies/92003.md) (partner)

## Sources

- [marketscreener.com](https://www.marketscreener.com/news/fine-organic-industries-limited-agreed-to-acquire-80-stake-in-oleofine-organics-sdn-bhd-from-smoo-ce7f5adcdf8dff21), 2026-05-18: "Fine Organic Industries Limited signed a letter of intent to acquire 80% stake in Oleofine Organics Sdn. Bhd. from Smoothex Chemicals Pvt Ltd and other shareholders for MYR 34.2 million."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.