Sime Darby offers £1b for palm oil group

Malaysian palm oil plantation company makes offer for London-listed New Britain Palm Oil with a nod from Papua New Guinea's prime minister.

Malaysian conglomerate Sime Darby on Thursday made a £1 billion ($1.7 billion) offer for London-listed New Britain Palm Oil, which owns huge swathes of plantation land in Papua New Guinea, and has secured approval from the country's prime minister.

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