July 24, 2009

Malvolia acquires 41 percent of Indonesia feed firm

Malvolia Pte Ltd of Singapore has acquired 41 percent of Pt Japfa Comfeed Indonesia, a publicly listed animal feed producer, at a price of RP374.72 billion (US$37.4 million).


Malvolia plans to merge Japfa with Pt Multi Agro Persada, its subsidiary operating in the animal feed manufacturing business, according to newspaper Investor Daily.


Earlier this month, Malvolia required 98.58 percent of Multi Agro at a price of RP364.76 billion (US$36.2 million).