KUALA LUMPUR, Aug 4 (Reuters) - Malaysia's FGV Holdings

, one of the world's largest palm oil producers, will

be delisted on August 28 after being taken over by a state-owned

body.

FGV said last week the Federal Land Development Authority

(Felda) had gained more than the 90% of the company's shares

required for a takeover. The offer runs to August 15.

Felda plans to restructure the company and Prime Minister

Anwar Ibrahim said on Saturday that FGV would return to its

original objective of prioritising the interests of Felda

settlers.

Felda settlers, owners of small plots of land, own shares in

FGV but have not seen the returns that they were promised when

the company was listed in 2012. They are considered a major

source of votes for the government.

FGV has, since 2020, been hit with a U.S. import ban on its

products due to allegations of forced labour at its plantations.