Mandom Indonesia to raise its portion in Alliance Cosmetics
JAKARTA – PT Mandom Indonesia Tbk (TCID), a cosmetic manufacturer, will take over 16.5 million shares of ACG International Sdn Bhd (ACGI) planted in PT Alliance Cosmetics (AC). The signing of the sale and purchase binding agreement took place yesterday (28/6).
Alia Dewi, Corporate Secretary of Mandom Indonesia, said that the payment regarding this transaction will be made no later than the day when the sale and purchase agreement was finalised and signed by involved parties. “The transaction value does not exceed IDR 5 billion or is only 0.5% of the issued and paid-up capital of the company,” she mentioned in the information disclosure quoted Wednesday (29/6).
According to Dewi, the company will become the controlling shareholder of AC, owning 99.996% of the shares, equal to 225,647,483 units. Both companies involved in this transaction share the same investor, namely Mandom Corporation. However, this transaction is said not to have any conflict of interest, referring to the Financial Services Authority Regulation (POJK) No.42/2020. (LK/ZH)