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Modern International cancels the acquisition of PT NAS

28 December 2018 10:08 AM  Company: PT. Modern Internasional Tbk[MDRN]
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JAKARTA - PT Modern Internasional Tbk (MDRN) cancelled the planned acquisition of PT Nusantara Agri Sejati (NAS). For information, NAS is a company engaged in dairy farming and milk processing.

Previously on 19 October 2017, Modern International delivered an information disclosure related to the planned acquisition of NAS. However, the company decided to cancel the transaction due to the company's financial condition and NAS.

For information, Modern International wants to acquire additional assets of PT Nusantara Agri Sejati as a strategy to restructure the company after closing the 7-11 mini market operated by PT Modern Sevel Indonesia. (LM)

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