Indonesia’s Indofood mulls acquisition of instant noodle affiliate supplying to Saudi Arabia, Turkey
Indofood CBP Sukses Makmur Tbk (ICBP) is mulling the acquisition of a company that supplies instant noodles to countries in the Middle East and Africa including Saudi Arabia, Turkey, and Egypt.
ICBP said in a filing with the Indonesian stock exchange on Feb 11, that it is assessing the offer from British Virgin Islands-registered Pinehill Corpora Limited and Steele Lake Limited to acquire all of the issued shares of Pinehill Company Limited, a holding firm that currently owns four subsidiaries.
The Indonesian company said it will conduct due diligence on Pinehill before deciding to acquire the company or not.
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