PT Kino Indonesia Tbk completed the acquisition of additional 51% stake in PT Morinaga Kino Indonesia from Morinaga & Co., Ltd..
January 14, 2019
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PT Kino Indonesia Tbk (IDX:KINO) signed a share transfer agreement to acquire additional 51% stake in PT Morinaga Kino Indonesia from Morinaga & Co., Ltd. (TSE:2201) for IDR 74.9 billion on October 9, 2018. A total of 0.073 million shares will be acquired as part of the deal. After the transaction, Morinaga & Co., Ltd. will not hold any stake in PT Morinaga Kino. Following the transaction, PT Kino Indonesia Tbk will be the controlling shareholder of PT Morinaga Kino Indonesia. PT Morinaga Kino Indonesia reported sales of IDR 0.46 million for the financial year ending December 31, 2017. Deal is expected to close by January 14, 2019.
PT Kino Indonesia Tbk (IDX:KINO) completed the acquisition of additional 51% stake in PT Morinaga Kino Indonesia from Morinaga & Co., Ltd. (TSE:2201) on January 14, 2019. The transaction was financed by PT Kino Indonesia Tbk from the combination of remaining initial public offering fund allocated for acquisition purpose and internal cash. The acquisition does not incur a significant impact on PT Kino Indonesia Tbk's financial condition and the acquisition is projected to directly bring a positive yield for the consolidated financial condition of PT Kino Indonesia Tbk.
PT Kino Indonesia Tbk is an Indonesia-based company, which is engaged in food, beverage, pharmaceutical and cosmetic industry. The Companyâs segments include Personal Care, Beverages, Foods, Pharmaceuticals, and Pet Food. The Company has approximately 30 brands divided into 25 categories with more than 600 stock-keeping units. It produces various types of beauty products, such as facial care, haircare, fragrances, feminine hygiene, men's care, and cosmetics. In addition, Kino also produces a variety of household necessities, such as cleaners, softeners, and home fresheners; variation of baby care products such as baby equipment cleaner and laundry detergent. The Company also manufactures packaged drinks, such as energy drinks, refreshments, Asian healthy drinks and herbal drinks. Its brands include Ellips, Samantha, Sasha, Sasha Hair Vitamin With Habbatussauda, Click, Ovale, Ristra, Sleek Baby and others.