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Jakarta Post

Economy in brief: KKR to invest in Japfa Comfeed Indonesia

  • The Jakarta Post

Jakarta   /   Fri, June 10 2016   /  08:50 am

JAKARTA: Investment firm KKR will invest US$81.2 million for 10.44 percent interest in publicly listed Japfa Comfeed Indonesia (JPFA), a statement says.

Integrated food company JPFA will place out 750 million new shares to KKR via private placement at approximately $52.9 million. Concurrent with the private placement, parent company Japfa Ltd. will sell 441.7 million shares in JPFA to KKR for an estimated $28.3 million.

Commenting on the sale of its shares in JPFA, Japfa CEO Tan Yong-nang said it was pleased to welcome KKR as a significant shareholder of its major subsidiary.

“We believe PT Japfa [JPFA] will benefit from KKR’s deep knowledge and experience in the agriculture and food sector, and its long-term investment thesis of promoting and enhancing the availability of safe and healthy food. We look forward to deepening our partnership with KKR in the futur...