CPO player PT BW Plantation Tbk (BWPT), that is controlled by Budiono Widodo family, acquired 99.99% stake in PT Prima Cipta Selaras worth Rp174.99 billion.
Prima Cipta owns and manages palm oil plantation located at Senyiur village, Kelinjau Ilir, East Kalimantan.
Prima Cipta, previously owned by Januri and Muhsin, has plantation permit of 11,203 hectares with planted area of 2,059 hectares.
Director Pionto Pratento at BWPT said the acquisition is aimed to expand the company's business.
"The shares sale and purchase agreement was signed on March 21," he said in a disclosure filing to Indonesia Stock Exchange last week.
Disclosure: No position at the stock mentioned above.
Print This Article