JAKARTA. PT Pyridam Farma Tbk (PYFA) has disbursed a loan facility worth IDR 55.5 million to one of its subsidiaries, PT Pyfa Sehat Indonesia (PSI), to acquire 0.5% of PT Holi Pharma’s shares.
Nadia Miranty Verdiana, Corporate Secretary of PYFA, claimed that the said loan was given to meet the limited company requirement, which calls for at least two shareholders in one company. “It is to accommodate the company’s ownership over 100% of Holi Pharma,” she confirmed in the information disclosure in Indonesia Stock Exchange (IDX).
After the acquisition of Holi Pharma, PYFA would then gain 99.95%, while PSI claims a small 0.05%.
As previously informed in idnfinancials.com, PYFA gained approval from its shareholders regarding the plan to take over the entirety of Holi Pharma. The total shares to be purchased amount to 27,385 shares of IDR 1 million each, with a total transaction of IDR 108.56 billion.
The acquisition of Holi Pharma is intended to extend PYFA’s business segments, especially with the abundance of generic drugs manufactured by Holi Pharma. “Looking at the condition, Holi Pharma would generate more optimal results if it could be acquired by 100%,” Lee Yan Gwan, President Director of PYFA, reasoned in the released official statement. (KR/ZH)