Frasers and Neave (SGX:F99) decided to dispose of a 50% stake in joint venture company in Malaysia, Vacaron Company, to Tan and Tan Developments, according to a Friday filing with the Singapore Exchange.
The move is part of the company's strategy to focus on its manufacturing, distribution, marketing and sale of its beverage, dairy and food products.
The joint venture with Frasers Property Malaysia owns a parcel of land measuring 5.149 hectares.
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