Sep 23, 2010

Ades to buy US$5 mio cosmetic assets

Producer of mineral water Ades PT Akasha Wira International Tbk (ADES) announces a US$5 million or Rp45 billion acquisition of cosmetic production equipments owned by PT Damai Sejahtera Mulia (DMS).
Based on the acquisition prospectus submitted to Indonesia Stock Exchange, Akasha International will use internally generated cash to acquire the assets. The acquisition is categorized as material because the value is more than 50% of Akasha's total equity worth Rp68.2 billion as of December 31 2019.
Following the acquisition, Akasha International will expand its business from mineral water producer with cosmetic products.
Akasha International has obtained loan facility from PT Bank Internasional Indonesia Tbk (BII) on September 2 2010. The 5 year facility will provide 13% annual interest rate.

Disclosure: No position at the stock mentioned above.

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