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Article: CME to help globalise Malaysian palm oil

Article from:
New Straits Times
Article date:
September 18, 2009
Author:
Copyright

Adeline Paul Raj
New Straits Times
09-18-2009
CME to help globalise Malaysian palm oil
Byline: Adeline Paul Raj
Edition: Main/Lifestyle
Section: Business Times
Type: Company

BURSA Malaysia Bhd has agreed, after over a year of negotiations, to sell a 25 per cent stake in its derivatives unit to CME Group Inc, the world's largest derivatives exchange.

The stake sale, expected to be concluded before year-end, is part of a strategic partnership to help globalise Malaysian crude palm oil (CPO) and grow the local derivatives market further.
The stake will cost CME about RM55.6 million, which it will pay for with RM1.9 million in cash and the rest in CME stock comprising 76,427 shares.

Bursa is set ...

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