Business News – Wednesday, September 24, 2008The Jakarta Post, Jakarta
Publicly listed PT Indofood Sukses Makmur, the world’s largest instant noodle maker, is expanding into the dairy industry by acquiring the parent company of dairy producer PT Indolakto for US$350 million.
In its statement to the Indonesia Stock Exchange (IDX) on Tuesday, Indofood said it had signed a conditional sale-and-purchase agreement with Pastilla Investment Ltd. to buy 100 percent of Singapore-based Drayton Pte. Ltd, which owns 68.57 percent of Indolakto. (more…)
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