JAKARTA. PT Garudafood Putra Putri Jaya Tbk (GOOD) plans to acquire shares of PT Mulia Boga Raya Tbk (KEJU) in October 2020.
Fridolina Alexandra Liliani, Director of KEJU, explained about the plan in a disclosure submitted to the Indonesia Stock Exchange (IDX) today. "The parties [GOOD and KEJU] agreed to make efforts so that this plan can be completed before the end of October 2020," said Liliani.
After the acquisition is complete, GOOD will own 55% of KEJU shares (825 million).
GOOD will buy 371.25 million of KEJU shares from Lie Po Fung, 226.88 million shares from Sandjaya Rusli, 96.25 million shares from Berliando Lumban Toruan, 82.5 million shares from Agustini Muara, 24.06 million shares from Marcello Rivelino Gunadirdja, and 24.06 million shares from Amelia Fransisca.
So far, the price of KEJU has not been announced. However, based on idnfinancials.com data, the average closing price for KEJU shares in the last 25 days was Rp1,211. Using the assumption, GOOD is expected to spend around Rp999.08 billion to acquire 55% of KEJU shares. (KR/AR)