VIVAnews - PT Charoen Pokphand Indonesia Tbk signed an asset-transfer deal with PT Primafood International. Primafood is a subsidiary whose 99.96 percent of shares are controlled by Charoen Pokphand.
The company bought the fixed assets belonging to Primafood worth IDR33.35 billion.
"The main reason of the transaction is to focus job on the company's businesses and Primafood," said Charoen Pokphand Managing Director T Thomas Effendy on Tuesday, Feb 9.
Through the transaction, the company will be more focused on the chicken-processing industry while Primafood on the distribution.
The company weighed on the fact that raw material supply is secure due to numerous livestocks available in the Primafood facilities.
In addition, the company and its subsidiary have compatible operational models.
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Translated by: Bonardo Maulana Wahono
