Cargill acquires Sorini Agro Corporindo at IDR3,500

Bisnis.com,15 Des 2010, 08:08 WIB

JAKARTA: Cargill Inc said it had agreed to pay a total of US$300 million for an 85.01% stake in PT Sorini Agro Asia Coporindo Tbk (SOBI). Following the take over announcement, Sorini Agro Asia Corporindo shares rose to a record in Jakarta trading.Sorini advanced 2.3% to IDR3,350 as of 2:41 p.m. local time, set for the highest close since its trading debut August 1992. Cargill said it agreed to buy the company's shares at IDR3,500 each. (wiw)

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