JAKARTA – Asia Agri International Pte Ltd steps forward as the new shareholder of PT Estetika Tata Tiara Tbk (BEEF) following yesterday’s (20/2) transaction.

Ratna Sari Ismianti, Corporate Secretary of Estetika Tata Tiara, confirmed that Asia Agri now controls 31% of BEEF’s shares, possessing approximately 590 million units of shares.

The shares were purchased by Asia Agri International in three separate transactions that was initiated last week (16/2). The price had been set to IDR 58 per share. Thus, cumulatively, the investment clocked up to IDR 34.22 billion in total.

At the same time, PT Tigatunggal Adimulya (TTA) and PT Brida Makmur Nusantara (BMN) sold off 19% and 12% of their portions in BEEF, lowering them down to 1% and 4%, respectively.

Asia Agri International is known not to have any portion in BEEF prior to this. The company is headquartered in Robinson Road #18-07, SBF Centre, Singapore. (LK/ZH)