Guthrie starts paying IBRA

Thu, 14 Jun 2001 | Source: DJ

KUALA LUMPUR (Dow Jones): Kumpulan Guthrie Bhd. has started making payments to the Indonesian Bank Restructuring Agency for its purchase of 25 oil palm estates, the Business Times reports, quoting unnamed sources.

Guthrie paid $368 million for control over around 200,000 hectares of oil palm estates formerly owned by the Salim Group. IBRA took over the companies from Salim Group after the financial crisis that struck the region in late 1997.

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