Jakarta, CNBC Indonesia – Issuer of consumer belonging to tycoon Sudhamek, PT Garudafood Putra Putri Jaya Tbk. (GOOD) plans to take over some of the shares of PT Mulia Boga Raya Tbk. (KEJU), a prochiz cheese producer, from its individual owner.
The company has signed a Memorandum of Understanding in the context of the plan to take over 825 million shares of KEJU owned by the sellers, which is 55% of all shares issued by KEJU.
However, it has not been disclosed how much the sales price will be. If we refer to the average price of KEJU’s shares on last Thursday’s trade (17/9/2020) of IDR 1,218 / share, the acquisition value is potentially worth IDR 1 trillion.
Data from the Indonesia Stock Exchange (IDX), recorded that KEJU shares closed at minus 0.81% at IDR 1,220 / share last Thursday with a market capitalization of IDR 1.83 trillion, while GOOD shares closed up 1.18% at IDR 1,285 / share. shares with a market capitalization of IDR 9.48 trillion.
“When completed [transaksi jual beli ini] it will result in a change in control of Mulia Boga Raya, “said GOOD Director and Corporate Secretary Paulus Tedjosutikno, in an information disclosure on the IDX, Friday (18/9/2020).
Meanwhile, the company bought KEJU shares from individual shareholders namely Lie Po Fung, Sandjaya Rusli, Berliando Lumban Toruan, Agustini Muara, Marcello Rivelino and Amelia Fransisca.
Referring to the KEJU financial statements as of March 2020, KEJU’s shareholders are Lie Po Fung 36%, Sandjaya Rusli 22%, PT Tudung Putra Putri Jaya 13.13% (200,000,000), Berliando Lumban 9.33%, Agustini Muara 8%, Marcello Rivelino 2.33%, Amelia Fransisca 2.33% and public investors 6.68%.
Tudung Putra Putri Jaya is also a 21.19% shareholder of Garudafood so that with the acquisition of 825 million shares, the share of the business group founded by Sudhamek Agoeng Waspodo Soenjoto, businessman and Amembers of the Steering Committee for the Presidential Work Unit for the Development of Pancasila Ideology, in KEJU shares it becomes 1.025 billion shares of KEJU or 68.33% of all KEJU shares.
“Meanwhile, the purpose of controlling is to develop business and expand business networks and to strengthen the company’s business position in the food and beverage industry,” said Paulus.
Paulus said that the negotiations were carried out directly by the issuer of Garuda Kacang producer with KEJU’s individual shareholders.
“The completion of the takeover plan will be carried out if the parties have reached a final agreement on all matters related to the business, commercial, financial and legal aspects as well as all preliminary terms and material provisions as stipulated in the memorandum of understanding have been met,” he said.
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