June 21, 2007

Charoen Pokphand to make US$18.4 million acquisition in Indonesia
 

Next month, PT Charoen Pokphand Indonesia (CPI) will acquire six Indonesian companies involved in the animal feed industry, day-old chick production and poultry meat distribution at a cost of Rp165.2 billion (US$18.4 million), CPI said.
 

The six companies to be acquired include PT Satwa Utama Raya in Surabaya, PT Istana Satwa Borneo in Balikpapan, PT Vista Agung Kencana in Palembang, PT Prima Food International, PT Vista Grand in Lampung and PT Cipta Katulistiwa Mandiri.

CPI's country manager Thomas Effendy said a rights issue, which is expected to raise Rp175.9 billion in fresh funds, would be used to finance the acquisition.