Ivo Mas merger approved

Ivo Mas merger approved

SINGAPORE (AFX-ASIA): Golden Agri-Resources said shareholders of its unit PT Sinar Mas Agro Resources & Technology have approved the merger of the palm plantation companies PT Ivo Mas Exim and PT Satya Kisma Usaha.

"The merger is part of an internal restructuring exercise to provide for a more efficient structure within the group," it said.

The merger will also require the approval of Indonesia's regulatory bodies, it said.