Aug 2, 2011

IndoAgri controls 72% Salim Ivomas

Indofood Oil and Fats Pte Ltd yesterday transferred 11.39 billion shares of newly listed PT Salim Ivomas Pratama Tbk (SIMP) to Indofood Agri Resources Ltd (IndoAgri).
In an official statement filed to Indonesia Stock Exchange yesterday, Corporate Secretary Ira Sawitri at Salim Ivomas said the shares transfer is part of the amalgamation of Indofood Oil and Fats, which was owned by IndoAgri, into IndoAgri, a publicly listed company in Singapore.
After the shares transfer, IndoAgri is now controlling 72% of Salim Ivomas's outstanding shares. The transfers were done six times via the negotiation market at Indonesia Stock Exchange at Rp1,100 per share, reflecting a Rp12.53 trillion deal. 

Disclosure: No position at the stock mentioned above.

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