Mitsui & Co. (Asia Pacific) Pte. Ltd. and Fujimori Kogyo Co., Ltd. (TSE:7917) made an offer to acquire remaining 20.58% stake in PT Champion Pacific Indonesia Tbk (JKSE:IGAR) for IDR 54.83 billion on September 28, 2016.

In a related transaction Mitsui & Co. (Asia Pacific) Pte., Ltd. and Fujimori Kogyo Co., Ltd. owned approximately 770 million shares comprises approximately 79.42% stake in PT Champion Pacific Indonesia Tbk. The transaction is expected to be completed by October 27, 2016.

Luky Walalangi and Freddy Karyadi of Ali Budiardjo, Nugroho, Reksodiputro acted as legal advisors for Mitsui & Co and Fujimori Kogyo.