Aug 13, 2010

Kingsford closes Kageo acquisition

PT Kingsford Holdings has accomplished Rp112.86 billion acquisition deal of 58.10% stakes in publicly listed PT Kageo Igar Jaya Tbk on August 12 2010.
In a public statement submitted to Indonesia Stock Exchange (IDX) today, the acquisition acomplishment is in line with a condisitional sale and purchase agreement signed between Kingsford and Kageo's seller PT Kalbe Farma Tbk (KLBF), publicly listed pharmaceutical producer, on July 19 2010.
Kalbe President Director Irawati Setiady said based on the agreement, Kingford agreed to acquire 610.06 million shares in Kageo at Rp185 per share.
"The shares sale is hopefuly to sharpen Kalbe's focus to its core business on production, marketing, product distribution, or healty services, she said in the statement.

Disclosure: No position at the stock mentioned above. 

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