(Bloomberg) -- Shares of PT Indofood Agri Resources,
the palm oil unit of the world's top instant noodle maker, rose
after the company agreed to buy rival PT Perusahaan Perkebunan
London Sumatra Indonesia for 9.1 trillion rupiah ($1 billion).
Stock in the Singapore-listed group gained as much as 4.7
percent, to $1.33, and traded at S$1.29 at 10:13 a.m. Indofood
will buy 64.4 percent of London Sumatra from First Durango
Singapore Pte. and other shareholders at 6,500 rupiah a share,
and offer 6,900 rupiah for the rest of the stock, it said May 26.
Read more at Bloomberg Emerging Markets News
the palm oil unit of the world's top instant noodle maker, rose
after the company agreed to buy rival PT Perusahaan Perkebunan
London Sumatra Indonesia for 9.1 trillion rupiah ($1 billion).
Stock in the Singapore-listed group gained as much as 4.7
percent, to $1.33, and traded at S$1.29 at 10:13 a.m. Indofood
will buy 64.4 percent of London Sumatra from First Durango
Singapore Pte. and other shareholders at 6,500 rupiah a share,
and offer 6,900 rupiah for the rest of the stock, it said May 26.
Read more at Bloomberg Emerging Markets News
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