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Malaysia's Sime Darby opts against buying New Britain Palm Oil stake

Reuters

KUALA LUMPUR, Sept 30 (Reuters) - Malaysia's Sime Darby Bhd , the world's top oil palm planter by land size, on Tuesday said it has opted not to buy 49 percent of London-listed New Britain Palm Oil from Kulim (Malaysia) Bhd .

Sime Darby decided "not to proceed further" after an exclusivity agreement with Kulim expired on Sept 28, the company said in a statement without giving reasons.

Sime Darby had earlier been selected as the preferred party for Kulim's stake in New Britain Palm Oil. The Malaysian pair had 60 days from the end of July to finalise terms . (Reporting by Al-Zaquan Amer Hamzah; Editing by Christopher Cushing)