Agribusiness group Wilmar International has entered into an agreement to acquire the remaining 8.62% of Malaysian oleochemicals company Natoleo.

The deal is worth MYR42.4m (US$13.5m) and is expected to take place within 90 days. The company is still seeking regulatory approvals from the Ministry of International Trade and Industry.

The move follows Wilmar International’s acquisition of a 91.38% stake in the company on 21 July.