Cargill acquires majority stake in Sorini
January 28, 2011
Cargill announced the completion of its deal to acquire 85.01% of PT Sorini Agro Asia Corporindo Tbk’s (Sorini) ordinary shares. The chocolate company first announced the deal on Dec 15, 2010.
The Indonesian-based company will become a subsidiary of Cargill and as required by Indonesian law, Cargill will make a mandatory tender offer for the remaining shares at IDR 3,500 per share.
“We are excited to be a part of Cargill and by the opportunities accorded to our customers and employees by this transaction,” said K L Chopra, the president director of Sorini, who will continue to lead the business. “The combined capabilities and talents of Cargill and Sorini will enable us to better serve customers in Indonesia, Southeast Asia and other markets.”
As one of the world’s leading producers and suppliers of sorbitol, Sorini operates seven manufacturing facilities located in Indonesia’s East java and Lampung provinces.
For more information visit www.cargill.com