Pokphand's stake in RI firm

Pokphand's stake in RI firm

HONG KONG (Reuter): Agricultural products trader and feedmill and poultry operator C.P. Pokphand Co Ltd said it bought 1.7 million shares, or a 3.24 percent stake, of P.T. Charoen Pokphand Indonesia from PT Central Pertiwi for Rp 15.43 billion.

PT Charoen, listed in Jakarta and Surabaya, is an Indonesian- incorporated company engaged in poultry and shrimp feed production and poultry breeding.

C.P. Pokphand has an attributable 43.3 percent stake in P.T. Central Proteinaprima, which holds 55.5 percent of C.P. Charoen.

P.T. Central is a wholly-owned subsidiary of a company controlled by Dhanin Chearavanot and Sumet Jiaravanon, directors and substantial shareholders of C.P. Pokphand. Sumet Jiaravanon is also a substantial shareholder of P.T. Charoen.