Jan 13, 2012

Gozco boosts stake in Golden Blossom

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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