PT JOM Prawarsa Indonesia signed a share purchase agreement to acquire 78.17% stake in PT Golden Plantation Tbk (JKSE:GOLL) from PT Tiga Pilar Sejahtera Food Tbk (JKSE:AISA) for approximately IDR 520 billion on May 11, 2016. PT JOM Prawarsa will acquire 2.86 billion shares of PT Golden Plantation. The payment should be made not later than September 30, 2016. A fine of 10.25% per annum will be imposed starting October 1, 2016, if deadline missed. The deal is expected to be finalized on September 30, 2016. The proceeds from the divestment will be used for other investments with higher returns, as well as for developing existing businesses. KJPP Jennywati, Kusnanto & Rekan acted as the appraiser to PT Tiga Pilar Sejahtera Food Tbk. KAP Amir Abadi Jusuf, Aryanto, Mawar & Rekan acted as accountant to PT Tiga Pilar Sejahtera Food Tbk and PT Golden Plantation Tbk.

PT JOM Prawarsa Indonesia completed the acquisition of 78.17% stake in PT Golden Plantation Tbk (JKSE:GOLL) from PT Tiga Pilar Sejahtera Food Tbk (JKSE:AISA) on May 11, 2016.