KL Kepong acquires Bumi Makmur

Malaysian-listed plantation giant Kuala Lumpur Kepong has on July 14, 2009, entered into agreements to acquire 95% shares of PT Bumi Makmur Sejahtera Jaya, a company with concession to develop oil palm plantation in Belitung Island.

KL Kepong told Kuala Lumpur Stock Exchange this morning that it acquired the shares for cash consideration of Rp6.66 billion. KL Kepong acquired the shares through its subsidiary PT Steelindo Wahana Perkasa (SWP) from Tjong Hasan Agus Salim and Tjhang Ardy Fadrinata.

Bumi Makmur Sejahtera holds a certificate of izin lokasi for approximately 2,336 Ha located in Desa Mentawak and Desa Air Kelik, Kepala Kampit sub-regency, Belitung Timur Indonesia, adjacent to SWP's plantations. 

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