Dyviacom to buy 31.5% of Nippon Indosari from Treasure East Investment
(The Insider Stories) - Indonesia consumer goods company PT Dyviacom Intrabumi Tbk (IDX:DNET) plans to buy 31.5% of food producer PT Nippon Indosari Corpindo (IDX:ROTI) from Treasure East Investment Ltd.
Nippon Indosari Corpindo spokeman Stephen Orlando said the acqusition will not effect the company’s operation. He declined to give more information on the transaction.
Dyviacom has announced it will acquire three companies: Nippon Indosari with value IDR2.13 trillion, 35,84% shares of PT Fast Food Indonesia (IDX:FAST), which operates fastfood restaurant chain Kentucky Fried Chicken (KFC) with a value of IDR1.99 triliun and 40% of PT Indomarco Prismatama, which runs the Indomaret minimarket chain for IDR2.64 trillion.
To finance this acqusition, Dyviacom will sell 14 billion shares through a rights issue program at IDRR500 each, potentially netting IDR7 trillion. The standby buyers for the rights issuance are PT Terra Konsuma Investama and PT Buana Capital.
Pieter Tanuri is the owner of PT Philadel Terra Lestari, which owns 72.45% of Dyviacom. The acqiusitions will change Dyviacom’s business focus from information technology to consumer goods.
