The potential sale of nearly half of New Britain Palm Oil (NBPO) has fallen through, it has been announced.
Earlier this year, the company had revealed that one of its major shareholders, Kulim, wanted to sell its 48.97% share in the palm oil company.
Kulim had been in discussions with Sime Darby Berhad in an exclusivity period. However, Sime Darby has decided not to go through with the transaction.
In a statement released by NBPO, which has a plant in Liverpool, the company said: “The board will consider another party for the transaction. Further announcements, where required, will be made in due course.”
The company revealed strong half-year trading figures in August 2014, which saw an increase of 126.3% in pre-tax profit, for the six months ending 30 June 2014.
NBPO is a major producer of palm oil from sustainable resources and employs around 100 staff at its refinery and bakery unit on Bootle’s Regent Road, Liverpool.