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SIP - Sipef NV News Story

€45 -0.3  -0.6%

Last Trade - 13/04/21

Sector
Consumer Defensives
Size
Mid Cap
Market Cap £408.6m
Enterprise Value £482.1m
Revenue £199.4m
Position in Universe 337th / 847

BRIEF-Sipef Agrees In Principle To Sell PT Melania In Indonesia

Tue 2nd March, 2021 6:21am
March 2 (Reuters) - Sipef NV  SIFB.BR :
    * SIPEF NV - SIPEF SIGNS AN AGREEMENT IN PRINCIPLE WITH
SHAMROCK
GROUP ON THE SALE OF PT MELANIA
    * SIPEF SIGNS AN AGREEMENT IN PRINCIPLE WITH SHAMROCK GROUP
ON THE
SALE OF PT MELANIA
    * CONSOLIDATED ASSET VALUE OF PT MELANIA IN THE BOOKS OF THE
GROUP
AMOUNTS TO USD 17.2 MILLION
    * AS A RESULT OF THIS TRANSACTION, THE GROUP WILL DIVEST
ITSELF OF
ABOUT HALF OF ITS RUBBER PLANTATIONS AND ITS ENTIRE TEA BUSINESS
    * SIPEF CONTROLS 95% OF PT MELANIA THROUGH ITS INDONESIAN
95%
SUBSIDIARY, PT TOLAN TIGA, THE REMAINING 5% BEING OWNED BY AN
INDONESIAN PENSION FUND
    * SALES PRICE, WHICH WILL ALSO BE PAID IN TWO STAGES, HAS
BEEN SET
AT USD 36 MILLION FOR 100% OF THE SHARES
    * REMAINING RUBBER PLANTATIONS WILL GRADUALLY BE CONVERTED
TO OIL
PALM PLANTATIONS

Source text: https://bit.ly/2MHe6sC
Further company coverage:  SIFB.BR 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))
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