MARKET DEVELOPMENT
Indonesia's Tiga Pilar Plans to Exit From Golden Plantation Holding-Exec
Indonesia's Tiga Pilar Plans to Exit From Golden Plantation Holding-Exec
23/12/2015 (Reuters) - Indonesian food manufacturer PT Tiga Pilar Sejahtera Tbk plans to exit from its holding of palm oil producer PT Golden Plantation Tbk to focus on its core business, a senior executive said on Wednesday.
Tiga Pilar is considering several options such as selling the stake in Golden Plantation or distributing part of it as a dividend to its shareholders next year, Tiga Pilar's finance director Sjambiri Lioe told Reuters by phone.
Tiga Pilar, which has businesses in rice, noodles and snacks, owned 78.17 percent of Golden Plantation as of end-September, according to Thomson Reuters data.
Tiga Pilar is considering several options such as selling the stake in Golden Plantation or distributing part of it as a dividend to its shareholders next year, Tiga Pilar's finance director Sjambiri Lioe told Reuters by phone.
Tiga Pilar, which has businesses in rice, noodles and snacks, owned 78.17 percent of Golden Plantation as of end-September, according to Thomson Reuters data.