Cocoaland Holdings has received a takeover bid from Hong Kongs First Pacific

Cocoaland Holdings has received a takeover bid from Hong Kong's First Pacific

Malaysian confectioner Cocoaland Holdings has received a MYR463.3m (US$125m) takeover bid from Hong Kong investment firm First Pacific Co.

Cocoaland disclosed the news on the Malaysian stock exchange yesterday (2 June) and said the companies have entered into exclusive negotiations.

Last week, Cocoaland rejected an offer of MYR377.5m from Navis Asia Fund.