Deal #168

*in 02.2019: Bumi Raya Investindo reported insolvent *Indonesian food company PT Tiga Pillar Sejahtera Food (TPS, IDX:AISA) has agreed to sell a 35 per cent stake in PT Bumi Raya Investindo (BRI), an oil palm plantation subsidiary, at a price of US$43 million. TPS Food is selling the stake to Bunge Agribusiness, a subsidiary of a US food giant Bunge Limited, listed on the New York Stock Exchange. *In 2010, BRI acquired five other oil palm plantation companies namely PT Mitra Jaya Agro Palm, PT Airlangga Sawit Jaya, PT Charindo Palma Oetama, PT Muarabungo Plantation, and PT Tugu Palma Sumatera that are located in Central Kalimantan, West Kalimantan, South Sumatra, and Riau. *January 31, 2020, the company has been declared insolvency/bankrupt. PT Golden Plantation (parent company) is still looking for investors. (*GFW DATA: 36/HGU/BPN/2000?)