PT Garudafood Putra Putri Jaya Tbk (GOOD) completed the purchase of 825 million shares belonging to PT Mulia Boga Raya Tbk (CHEESE) on Wednesday (14/10). This amount is equivalent to 55% of all shares that have been issued by the Prochiz cheese producer.
Based on the disclosure of information about Garudafood on the Indonesia Stock Exchange (IDX) website, Wednesday (14/19), the takeover price of 825 million shares is IDR 1,156 per share. That way, the total acquisition value will reach IDR 953.7 billion.
Garudafood bought shares CHEESE of the sellers which consisted of six people. They are Lie Po Fung, Sandjaya Rusli, Berliando Lumban Toruan, Agustini Muara, Marcello Rivelino, and Amelia Fransisca.
Lie Po Fung is the majority shareholder CHEESE with ownership of 371.25 million shares (45%). Meanwhile Sandjaya Rusli holds 226.88 million shares (27.5%), Berliando Tumban Toruan 96.25 million (11.66%), Agustini Muara 82.5 million (10%), Marcello Riveliono 24.06 million (2, 92%), and Amelia Fransisca 24.06 million shares (2.92%).
Therefore, with the completion of this takeover transaction, Garudafood will become the new controlling shareholder of Mulia Boga Raya.
In the disclosure of information, the management of Garudafood said that the purpose of this control was to develop and expand the business network, as well as strengthen the business position of Garudafood in the packaged food and beverage industry.
In a different disclosure of information, Mulia Boga Raya stated that there is no affiliation relationship between the sellers and the new controllers. The incident, information, or material facts do not have a negative impact on the operational activities, law, financial condition or business continuity of Mulia Boga Raya.
Source: WorldTodayNews | 26 Nov 2020
Garudafood (GOOD) officially acquired 55% shares of cheese producer Prochiz for Rp. 937 billion