ID :
20874
Wed, 09/24/2008 - 00:01
Auther :
Shortlink :
https://www.oananews.org//node/20874
The shortlink copeid
INDOFOOD ACQUIRES INDOLAKTO STAKE WORTH US$350 MILLION
Jakarta, Sept 23 (ANTARA) - Publicly listed PT Indofood Sukses Makmur (INDF) has officially acquired a 68.57 percent stake of PT Indolakto worth US$350 million, INDF corporate secretary Werianty Setiawan said.
She said that the acquisition took place after INDF took over a 100 percent stake of Darayton Pte. Ltd through Pastilla Investment.
"The company has signed a conditional sale-purchase agreement with Pastilla Investment Limited to acquire a 100 percent stake in Drayton," she said here on Tuesday.
Indolakto is a milk and milk-based product producer such as milk, butter and ice cream. Indolakto has so far produced products with trade marks such as Indomilk, Cap Enaak, Tiga Sapi, Ordchid Butter and Indoeskrim.
Werianty said the acquisition was expected to be completed in December 2008. The fund for the purchase of the stake will be taken from the company's cashflow and bank loans.
Besides taking over its stake, the company also acquired its receivables worth US$100.5 million.
She said her company has paid the acquisition funds amounting to US$2.5 million, which is the equivalent of 15 percent of the acquisition fund at the time the agreement was concluded.
The remaining US$297.5 million or about 85 percent will be paid off in seven work days after all the conditions for the acquisition have been met.
She said that the acquisition took place after INDF took over a 100 percent stake of Darayton Pte. Ltd through Pastilla Investment.
"The company has signed a conditional sale-purchase agreement with Pastilla Investment Limited to acquire a 100 percent stake in Drayton," she said here on Tuesday.
Indolakto is a milk and milk-based product producer such as milk, butter and ice cream. Indolakto has so far produced products with trade marks such as Indomilk, Cap Enaak, Tiga Sapi, Ordchid Butter and Indoeskrim.
Werianty said the acquisition was expected to be completed in December 2008. The fund for the purchase of the stake will be taken from the company's cashflow and bank loans.
Besides taking over its stake, the company also acquired its receivables worth US$100.5 million.
She said her company has paid the acquisition funds amounting to US$2.5 million, which is the equivalent of 15 percent of the acquisition fund at the time the agreement was concluded.
The remaining US$297.5 million or about 85 percent will be paid off in seven work days after all the conditions for the acquisition have been met.
