JAKARTA. PT Pyridam Farma Tbk (PYFA) has signed a Scheme Implementation Deed (SID) regarding the plan of one of its subsidiaries to take over shares of Probiotec, an Australia-based pharmaceutical company.

SID was signed last Thursday (21/12) by the representatives of Probiotec Limited and PYFA’s Australia-based subsidiary, Pyfa Australia Ptey. Ltd.

Nadia Miranty Verdiana, Corporate Secretary of PYFA, mentioned that this acquisition is carried out in relation to market expansion. “In which, through this acquisition, the company may cover more extensive market, as well as increasing the company group’s market share in the international market,” she explained in the official disclosure.

By acquiring Probiotec, Verdiana said that the company will gain access to a cutting-edge technology, as well as research and development (R&D). Then, the operation of the group can be more efficient with this extra resource from Probiotec.

The transaction value that will be borne by PYFA for Probiotec acquisition is not yet disclosed. However, each share of Probiotec that will be taken over by PYFA is set to AUD 3. (KR/ZH)