Malaysia's Cocoaland rejects $104.5 mln takeover offer from Navis Asia Fund

May 25, 2015 3:38 PM

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KUALA LUMPUR May 25 Cocoaland Holdings Bhd , a Malaysian snacks and candies company, said on Monday it has decided to reject a takeover offer from a unit of Navis Asia Fund.

The company said in a stock exchange filing that its directors had deliberated on the proposed acquisition by Navis Asia VII Management Company Ltd, who made the offer on behalf of Navis Asia Fund VII, and "unanimously rejected the offer".

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