KUALA LUMPUR (Jan 16): BOUSTEAD HOLDINGS BHD [] is selling a 95% stake in PT Dendymarker Indahlestari to PT Agro Investama Gemilang (PTAIG) for US$38 million (RM119.53 million).
PT Dendymarker Indahlestari, which provides oil palm PLANTATION []s services, is based in Musi Rawas, Indonesia.
“The proposed disposal will benefit the Boustead group as the group intends to focus on its oil palm operations in Malaysia,” it said.
Boustead said on Jan 11, its unit Bounty Corp Sdn Bhd and Supriadi Zainal had signed a sale and purchase agreement with PTAIG to dispose of a combined 95% stake for the US$38 million.
Under the agreement, Bounty Corp would dispose of 712,576 shares or 94.7% and Supriadi the other 0.3% to PTAIG.
Bounty Corp and PTAIG also entered into a put and call option agreement for another 37,504 shares at an exercise price of US$2 million.
PT Dendymarker Indahlestari, which provides oil palm PLANTATION []s services, is based in Musi Rawas, Indonesia.
“The proposed disposal will benefit the Boustead group as the group intends to focus on its oil palm operations in Malaysia,” it said.
Boustead said on Jan 11, its unit Bounty Corp Sdn Bhd and Supriadi Zainal had signed a sale and purchase agreement with PTAIG to dispose of a combined 95% stake for the US$38 million.
Under the agreement, Bounty Corp would dispose of 712,576 shares or 94.7% and Supriadi the other 0.3% to PTAIG.
Bounty Corp and PTAIG also entered into a put and call option agreement for another 37,504 shares at an exercise price of US$2 million.
