Lippo keen on 38% of Auric<\/p>\n
SINGAPORE (Reuter): Food maker Auric Pacific has confirmed
\nthat Indonesia's Lippo Group is interested in acquiring a 38
\npercent stake in the company, the Straits Times said on Saturday.<\/p>\n
The daily added that Lippo group could also become the latest
\nIndonesian conglomerate to secure a "back-door listing" in
\nSingapore by buying the Auric stakes currently held by Pantagon
\nand Nine Heritage.<\/p>\n
Pantagon holds a 20.63 percent interest in Auric while Nine
\nHeritage holds 18 percent.<\/p>\n
The daily quoted a shareholder of Auric, Endang Utari
\nMokodompit, as saying in a statement on Friday that Lippo was
\ninterested in acquiring her 15 percent interest in Pantagon
\nHoldings and 80 percent interest in Nine Heritage and discussions
\nare continuing.<\/p>\n
The daily also quoted a Auric spokesman as saying on Friday:
\n"A sellout by Endang to Lippo would trigger off a mandatory
\ngeneral offer and that would give Lippo its first vehicle on the
\nStock Exchange of Singapore."<\/p>\n
Endang leads a consortium comprising Parkway Holdings and two
\nSingaporean businessmen which took over Auric in 1995.<\/p>\n
Together, they control 64.95 percent of Auric, formally known
\nas Goodman Fielder Asia, through Westront, Pantagon Holdings and
\nNine Heritage.<\/p>\n
Westront is an 84-16 joint venture between Parkway and South
\nQuay.<\/p>\n
Pantagon is a 51-49 joint venture between Endang and
\nBenchmark, which is in turn owned by South Quay, the GK Goh group
\nand Malaysian businessman Azmi Wan Hamzah.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/lippo-keen-on-38-of-auric-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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