ID :
32055
Tue, 11/25/2008 - 06:35
Auther :
Shortlink :
http://m.oananews.org//node/32055
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INDOFOOD'S SUBSIDIARY TAKES OVER FIVE OILPALM PLANTATION COMPANIES
Jakarta, Nov 24 (ANTARA) - PT Salim Ivomas Pratama (SIMP) signed an agreement for the acquisition of five palm oil plantation companies on November 21, 2008.
The acquisition is done through Indofood Agri Resources Ltd (IndoAgri) worth Rp285.052 billion.
IndoAgri chief executive officer Mark Julian Wakeford said on Monday the deal would be implemented in three transactions.
The first transaction is SIMP would take over 100 percent of shares in three subsidiaries of PT Abadi Cemerlang Sejahtera (ACS) namely PT Cakra Alam Makmur, PT Hijaupertiwi Indah Plantation and PT Cangkul Bumisubur.
PT Hijaupertiwi and PT Cangkul Bumi Subur have 36,300 hectares of oilpalm plantations in South Sumatra and Central Kalimantan.
PT Cakra Alam Makmur meanwhile is a collector of palmoil commodity with a capacity of 7,500 tons of crude palmoil. The transaction is expected to be completed in December this year.
The second transaction meanwhile is to be done between SIMP with Lyminto Pte Lts. Under the agreement SIMP would take over Exchangeable Bond belonging to Lyminto Pte Ltd worth Sing$25.1 billion.
The bond is issued by PT Usaha Karya Mandiri and is exchangeable with 15,499 shares (29.98%) of PT Sarana Inti Pratama.
PT Sarana Inti Pratama is a palomoil reserach, nursery and development company that has three subsidiaries operating in the oilplantation sector holding 67,000 hectares of plantations in West Kalimantan.
The SMIP has now held 70.02 percent of shares of PT Sarana Inti Pratama. After conclusion of the transaction on April 30, 2009 the SIMP share holding in PT Sarana Inti Pratama will rise to 100 percent.
The third transaction meanwhile will be done between the SIMP and PT Mulia Abadi Lestari.
Under the agreement SIMP will acquire 28,499,000 shares (30%) of PT Mitra Inti Sejati Plantation which is the subsidiary of PT Mulia Abadi Lestari. The transaction will be worth Rp28.5 billion.
PT Mitra is an oilpalm plantation and fresh fruit processing company controlling 12,000 hectares of oilpalm plantations in West Kalimantan.
At present SIMP controls a 70 percent stake in PT itra. After the transactions, SIMP's holding in PT Mitra will increase to 100 percent.
The acquisition is done through Indofood Agri Resources Ltd (IndoAgri) worth Rp285.052 billion.
IndoAgri chief executive officer Mark Julian Wakeford said on Monday the deal would be implemented in three transactions.
The first transaction is SIMP would take over 100 percent of shares in three subsidiaries of PT Abadi Cemerlang Sejahtera (ACS) namely PT Cakra Alam Makmur, PT Hijaupertiwi Indah Plantation and PT Cangkul Bumisubur.
PT Hijaupertiwi and PT Cangkul Bumi Subur have 36,300 hectares of oilpalm plantations in South Sumatra and Central Kalimantan.
PT Cakra Alam Makmur meanwhile is a collector of palmoil commodity with a capacity of 7,500 tons of crude palmoil. The transaction is expected to be completed in December this year.
The second transaction meanwhile is to be done between SIMP with Lyminto Pte Lts. Under the agreement SIMP would take over Exchangeable Bond belonging to Lyminto Pte Ltd worth Sing$25.1 billion.
The bond is issued by PT Usaha Karya Mandiri and is exchangeable with 15,499 shares (29.98%) of PT Sarana Inti Pratama.
PT Sarana Inti Pratama is a palomoil reserach, nursery and development company that has three subsidiaries operating in the oilplantation sector holding 67,000 hectares of plantations in West Kalimantan.
The SMIP has now held 70.02 percent of shares of PT Sarana Inti Pratama. After conclusion of the transaction on April 30, 2009 the SIMP share holding in PT Sarana Inti Pratama will rise to 100 percent.
The third transaction meanwhile will be done between the SIMP and PT Mulia Abadi Lestari.
Under the agreement SIMP will acquire 28,499,000 shares (30%) of PT Mitra Inti Sejati Plantation which is the subsidiary of PT Mulia Abadi Lestari. The transaction will be worth Rp28.5 billion.
PT Mitra is an oilpalm plantation and fresh fruit processing company controlling 12,000 hectares of oilpalm plantations in West Kalimantan.
At present SIMP controls a 70 percent stake in PT itra. After the transactions, SIMP's holding in PT Mitra will increase to 100 percent.
