ID :
20780
Tue, 09/23/2008 - 17:39
Auther :
Shortlink :
http://m.oananews.org//node/20780
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INDOFOOD ACQUIRES 100 PCT OF DRAYTON'D SHARES
Jakarta, Sept 23 (ANTARA) - PT Indofood Sukses Makmur (INDF) has bought 100 percent of Drayton Pte Ltd (Drayton)'s shares, including Drayton shareholders' claims amounting to US$ 100.5 million, an INDF spokesperson said.
"On September 22,2008 , INDF signed a conditional sales-and- purchase agreement with Pastila Investment Limited on 100 percent of Drayton's shares , including US$ 100.5 million worth of shareholders' claims," Marianty Setiawan, INDF's corporate secretary, said here Tuesday.
She said Drayton was a Singaporean company controlling 68.57 percent of Indolakto shares which would be acquired by INDF.
Indolakto was a producer of milk and milk products circulating in Indonesian markets under such brand names as Indomilk, Cap Enaak, Tiga Sapi, Orchid Butter and Indoeskrim.
The transaction to acquire Indolakto was valued at US$ 350 million of which 15 percent (US$52,5 million) would be paid at the signing of the purchase agreement and the rest (US$297.5 million) on the settlement date which would be seven days after fulfillment of all acquisition terms.
Setiawan said the funds for the acquisition would come from internal sources and a bank loan. "We plan to complete the acquisition process in December 2008," she said.
She also said the transaction was a material one and thus it had to be approved by an INDF extraordinary general shareholders' meeting.
"On September 22,2008 , INDF signed a conditional sales-and- purchase agreement with Pastila Investment Limited on 100 percent of Drayton's shares , including US$ 100.5 million worth of shareholders' claims," Marianty Setiawan, INDF's corporate secretary, said here Tuesday.
She said Drayton was a Singaporean company controlling 68.57 percent of Indolakto shares which would be acquired by INDF.
Indolakto was a producer of milk and milk products circulating in Indonesian markets under such brand names as Indomilk, Cap Enaak, Tiga Sapi, Orchid Butter and Indoeskrim.
The transaction to acquire Indolakto was valued at US$ 350 million of which 15 percent (US$52,5 million) would be paid at the signing of the purchase agreement and the rest (US$297.5 million) on the settlement date which would be seven days after fulfillment of all acquisition terms.
Setiawan said the funds for the acquisition would come from internal sources and a bank loan. "We plan to complete the acquisition process in December 2008," she said.
She also said the transaction was a material one and thus it had to be approved by an INDF extraordinary general shareholders' meeting.
