Acquisition approved<\/p>\n
JAKARTA (JP): Shareholders of PT Kawasan Industri Jababeka
\n(KIJ) approved yesterday a management plan to acquire two other
\ncompanies and to distribute an interim dividend of Rp 50 (2.18
\nU.S. cents) per share.<\/p>\n
KIJ president Ismail Sofyan told journalists after an
\nextraordinary shareholders' meeting yesterday that the
\nacquisition of PT Indocargomas Persada and PT Greenwood Sejahtera
\nwill allow it to expand its 790-hectare industrial estate in
\nBekasi, West Java, by 230 ha.<\/p>\n
"It's a part of our plan to expand our industrial estate by
\n780 ha. We want to acquire Indocargo and Greenwood because both
\ncompanies' land is located adjacent to our industrial estate and
\nhas been licensed for development," said Ismail.<\/p>\n
He said the development of the new areas will need an
\ninvestment of US$200 million. KIJ will provide only $70 million
\nfrom its equity, he said, while $20 million will come from
\nretained earnings and the rest from bank loans.<\/p>\n
KIJ has selected Inter Pacific Bank and Bank Bira to arrange
\nthe loans, he added. (10)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/acquisition-approved-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
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