Pacific won't buy Indofood

Pacific won't buy Indofood

HONG KONG (Dow Jones): First Pacific Co. confirmed yesterday
that it won't be acquiring fellow Salim Group member, PT Indofood
Sukses Makmur.

First Pacific Managing Director Manuel Pangilinan, speaking
after the Hong Kong conglomerate's annual general meeting, said
he's no longer interested in Indonesia's largest instant noodle
maker. First Pacific had said several months ago that it was
considering it as a potential acquisition.

"Given the current political and economic situation in
Indonesia, such an investment is quite unlikely," Pangilinan
said.