JAKARTA. PT Impack Pratama Industri Tbk (IMPC), a manufacturer of building and plastic materials, will take over 100% of Mulford Holdings Pty. Ltd. (MH) with total transaction value of IDR 808 billion.

MH’s total shares acquire by IMPC are 2,165,273, the entire of which is bought from Mulford International Pte. Ltd. This corporate action will establish IMPC as the controlling shareholder of MH.

According to IDNFinancials data, MH is a holding company listed in Singapore. The company has companies in Australia and New Zealand, which are engaged in the distribution of plastic sheets and similar goods.

The management of IMPC also said that this acquisition is carried out according to the expansion plan and innovation through new product launch. “It is in order to support the expansion of product distribution network, not only in Indonesia but also outside Indonesia,” said the management of IMPC in the official statement.

Previously, IMPC is reported successfully securing credit facility from PT Bank Central Asia Tbk (BBCA) for this acquisition of MH. The total investment credit facility obtained by the company from BBCA is IDR 720 billion.

“The transfer price has been fully paid through available funds in cash and cash equivalent, as well as bank loans,” added the management of IMPC. (KR/ZH)