Jul 20, 2010

Kalbe sells Igar at Rp185 to Kingsford

Pharmaceutical producer PT Kalbe Farma Tbk (KLBF) has entered into conditional sale and purchase agreement (CSPA) to dispose its subsidiary PT Kageo Igar Jaya Tbk to Kingsford Holdings.
In a public statement today, Kalbe Farma will sell 58.10% stakes or 610.06 million shares in Kageo Igar Jaya to Kingsford at Rp185 per share or Rp112.86 billion.
Kalbe President Director Irawati Setiady said the transaction is not categorized as affiliated. The transaction will be done by considering terms and condisiton agreed in CSPA.

Disclosure: No position at the stock mentioned above.

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