F&N (breaking news)

F&N (breaking news): may see spillover interest, on news that listed Msian unit, F&N Bhd to buy 23% stake in listed confectionery maker Cocoaland for RM 54.6m. Acquisition of Cocoaland at RM1.38/sh “a bargain” vs last traded at RM2.87, with earnings to be accretive for both companies in the medium term. Company may consider larger stake in Cocoaland if opportunity arises