indofood-buys-milk-processor

Indofood buys milk processor

Indonesia's Indofood rebuilds its pre-crisis empire with the purchase of Drayton which owns 69% of milk producer Indolakto.
PT Indofood Sukses Makmur Indofood, the worldÆs largest instant noodle producer, yesterday agreed to buy Drayton, owner of IndonesiaÆs leading milk processor Indolakto, for $350 million.

Indofood, which is part of the Salim Group but 50.1%-owned by Hong Kong investment company First Pacific, signed a memorandum of understanding with Drayton back in August to fully take control of its operations, and expects to complete the purchase by December. It has signed a conditional sale-and-purchase agreement with Pastilla Investment to buy 100% of Drayton, which owns 68.57% of Indolakto.

Jakarta-listed Indofood's shares fell by 50 rupiah, or 2.3%, to Rp2,125 during yesterday's trading session.

The Salim Group was a shareholder in Indolakto before the 1997...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222