JAKARTA. PT Indika Energy Tbk (INDY) is diversifying and branching out to the essential oil industry through its subsidiary, PT Indika Multi Properti (IMP), which has acquired 46% of PT Natura Aromatik Nusantara (NAN). INDY reportedly spent IDR 179.6 billion in said company, which is engaged in the essential oil industry.

In the information disclosure in Indonesia Stock Exchange (IDX) issued yesterday (24/1), Adi Pramono, Corporate Secretary of INDY, confirmed that the acquisition has taken full effect, meaning that IMP will have a claim over 46% of shares of NAN. He then mentioned how this investment is included in INDY’s strategic initiatives as a group to expand its business to the essential oil manufacturing sector in Indonesia.

PT Natura Aromatik Nusantara is a manufacturer of chemical aromatics, essential oil, and natural extract for the flavour and fragrance industry. It was established in 2014 and has user bases in Asia, Europe, and America. NAN’s portfolio includes its products in the flavour and fragrance, food and beverages, as well as the cosmetic industry.

Prior to the diversification, INDY is also known to have branched out to the healthcare sector by forming a joint venture with Bioneer Corporation called bernama Bioneer Indika Group (BIG). (AM/ZH)