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Can-One shareholders have backed a MYR 917.2 million offer for Kian Joo, a Malaysian packaging company.
Can-One Bhd signed a sale and purchase agreement to sell F&B Nutrition Sdn Bhd to Wholesome Dairies Pte Ltd for between RM800 million and RM1 billion. Proceeds will pay down about RM750 million of bank borrowings used to privatise Kian Joo Can Factory.