The Jakarta Post, Jakarta | Fri, 12/05/2008 10:46 PM
On Friday, shareholders in the world's biggest instant noodle producer, PT Indofood Sukses Makmur, gave approval to a plan for the company to acquire shares in milk producer Indolakto from Drayton Pte Ltd.
The acquisition, which is estimated to be worth US$350 million, would also mean Indofood would take on Indolakto's debts -- estimated to be worth just over $100 million.
Indolakto produces various milk products including powdered milk, sterilized milk, ice cream and yogurt.
"We are thankful to shareholders for their support in the transaction plan," Indofood president director Anthoni Salim said Friday.
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