Danareksa to acquire NVPD

JAKARTA (JP): PT Danareksa yesterday announced plans to acquire a 51 percent stake of PT NVPD Soedarpo Corporation, a small pharmaceutical distributor.

The company offered to purchase 6,961,050 Soedarpo shares at a price of Rp 2,775 (US$1.15) per share .

The new price exceeds a NVPD Soedarpo share price peak recorded within 90 days before the announcement, by Rp 25.

Danareksa claims to presently own 450 Soedarpo shares and plans to increase ownership to 51 percent by acquiring another 6,961,050 shares.

The share acquisition will be made on the Jakarta Stock Exchange and/or the Surabaya Stock Exchange.

A private bank owned by conglomerate Gajah Tunggal group, Bank Dagang Nasional Indonesia (BDNI) said that Danareksa had sufficient funds to complete the purchase.

Sources at Danareksa and NVPD Soedarpo contacted yesterday were not available for comment. (09)