JAKARTA - PT Trisula International Tbk (TRIS) will complete the acquisition of a 78.52% stake in PT Trisula Textile Industries Tbk (BELL) by December 2, 2019.
The completion date was decided after the estimated effective date of TRIS’s rights issue plan on November 18 had been determined.
“With the acquisition, we expect there will be a synergy between TRIS and BELL to become a one-stop shopping destination that provides garment materials and ready-to-wear clothes by marketing the JOBB and Jack Nicklaus brands,” said TRIS CEO Santoso Widjojo in an official statement received by IDNFinancials.com, Wednesday (30/10).
Aside from the aforementioned corporate actions, TRIS also plans to build a factory in Central Java in 2020.
“Going forward, we will integrate all of our factories to optimise production costs,” said Mr Widjojo. (MS)