Indofood is considering the idea to acquire PCL
JAKARTA - PT Indofood CBP Sukses Makmur Tbk (ICBP) is exploring the idea to acquire the shares of Pinehill Corpora Limited (PCL) and Steele Lake Limited (SLL), two companies based in the British Virgin Island. The two companies produce instant noodles for the Middle East and Eastern Europe market.
As quoted from the company's disclosure on Tuesday (11/2), Gideon A Putro, Corporate Secretary of PT Indofood CBP Makmur Tbk (ICBP) said that they had responded to the offer to acquire PCL and SLL shares. "Pinehill Holding Company is a holding company that has four subsidiaries in the instant noodle industry," he said.
Pinehill is an instant noodle producer and holder of Indomie license in Saudi Arabia, Nigeria, Turkey, Egypt, Kenya, Morocco, and Serbia. ICBP will conduct due diligence before making the decision to accept the PCL offer. (LK/AR)