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PT Indofood CBP Sukses Makmur Tbk (ICBP.JK)

Jakarta - Jakarta Delayed Price. Currency in IDR
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8,525.00+75.00 (+0.89%)
At close: 3:09PM WIB
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  • Reuters

    Indonesian tycoon Salim wins close shareholder vote on controversial $3 billion deal

    Indonesian tycoon Anthoni Salim narrowly won shareholder backing on Friday for a $3 billion takeover transaction between companies he controls, overcoming criticism about the deal's valuation and questions about corporate governance. First Pacific Co Ltd, Salim's holding company, said in a filing to the Hong Kong stock exchange that a takeover by its subsidiary Indofood CBP (ICBP) of Pinehill Company Ltd was approved by its independent shareholders at a special meeting where 52% of votes were cast in favour. ICBP is best known for the Indomie noodle brand and Pinehill is one of Indomie's distributors and manufacturers, in the Middle East and Africa.