CPO player PT Gozco Plantations Tbk (GZCO), that is controlled by businessman Tjandra Mindharta Gozali, has boosted its stake in its unit dubbed PT Golden Blossom Sumatra to 95% from 67%.
In a company disclosure to Indonesia Stock Exchange yesterday, Gozco has agreed to acquire another 28% stake in Golden Blossom at Rp176.40 billion from Bravissimo Ventures Inc. Gozco said Bravissimo is non-affiliated party.
The takeover is expected to jack up the stake ownership in Golden Blossom and profit contribution.
Disclosure: No position at the stock mentioned above.
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