Indofood to sell stake in PT Artha<\/p>\n
JAKARTA (JP): Publicly-listed PT Indofood Sukses Makmur, an
\naffiliate of the giant Salim Group, is selling its stake in
\ninstant coffee producer PT Artha Nugraha Mandiri.<\/p>\n
Indofood's chief executive officer, Eva Rijanti Hutapea, said
\nlast week there was one potential buyer for the company located
\nin Semarang, Central Java.<\/p>\n
"But we do not know what transaction price the buyer is
\noffering," Bisnis Indonesia quoted her as saying last week.<\/p>\n
She declined to mention the total expected value of the
\ntransaction, but said the proceeds would be invested in another
\nstrategic business.<\/p>\n
Artha Nugraha is 51 percent owned by Indofood and 49 percent
\nby PT Java Prima.<\/p>\n
Another Indofood executive said the two firms were negotiating
\nthe terms of the transaction, which is expected to take place
\nsoon, and that a foreign investor had proposed cooperating with
\nArtha Nugraha in financial and technological aspects.<\/p>\n
The plan would include the exportation of 60 tons of instant
\ncoffee per month from Artha Nugraha to the European market, which
\nis equivalent to 50 percent of the firm's total monthly
\nproduction.<\/p>\n
In a related development, Indofood has announced its intention
\nto acquire 11 companies under the Salim Group at a transaction
\ncost of Rp 1.75 trillion (US$730.6 million).<\/p>\n
The companies include PT Intiboga Sejahtera, PT Salim Oil
\nGrains, PT Bitung Menado Oil Ltd. and PT Argha Giri Perkasa. The
\nother firms were Inti Plantation, PT Cibaliung Tunggal
\nPlantations, PT Gunung Mas Raya, PT Serikat Putra and PT
\nIndriplant and PT Indomarco Adhi Prima. (09)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/indofood-to-sell-stake-in-pt-artha-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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