JAKARTA – After acquiring 31% of PT Estetika Tata Tiara Tbk (BEEF), Asia Agri International Pte Ltd will hold a mandatory tender offer for BEEF’s shares.

Based on the information disclosure quoted Monday (27/2), 360 million shares (19.11%) were acquired by Asia Agri from PT Tigatunggal Adimulya (TTA), while 230 million shares (12.21%) were purchased from PT Brida Makmur Sejahtera (BMS). With this corporate action, the Singaporean importer lays a claim over 590 million shares or 31.31% of BEEF.

Asia Agri records an issued and paid-up capital of SGD 10, which belong to Refina Satrio and Reria Erhar of SGD 5 each. Asia Agri takes over BEEF with an intention to enhance its investment portfolio.

Until January 2023, BEEF’s shares clock up to 1.88 billion units, 35.17% of which belongs to TTA, followed by BMS of 16% and public investors of 48.59%. (LK/ZH)