Hokkan Holdings Limited (TSE:5902) agreed to acquire a 80% stake in beverage packaging units of PT. Deltapack Industri for IDR 1.3 trillion on October 31, 2018. As part of the transaction, Hokkan Holdings Limited will establish PT. Hokkan Deltapack, which will take over the operations and assets from seven units of PT. Deltapack Industri. Hokkan will hold 80 percent of the joint venture and Deltapack the remaining 20 percent. The consideration will be paid in cash. The transaction is expected to close in April 2019. Luky Walalangi, Miriam Andreta, Hans Adiputra, T. Anggra Syah Reza, Andhika Indrapradja and Wisnu Renansyah Jenie of Walalangi & Partners acted as a legal advisor to Hokkan Holdings Limited. KPMG Singapore acted as financial advsior to Hokkan Holdings Limited.