PT Kino Indonesia Tbk completed the acquisition of additional 51% stake in PT Morinaga Kino Indonesia from Morinaga & Co., Ltd..
PT Kino Indonesia Tbk (IDX:KINO) completed the acquisition of additional 51% stake in PT Morinaga Kino Indonesia from Morinaga & Co., Ltd. (TSE:2201) on January 14, 2019. The transaction was financed by PT Kino Indonesia Tbk from the combination of remaining initial public offering fund allocated for acquisition purpose and internal cash. The acquisition does not incur a significant impact on PT Kino Indonesia Tbk's financial condition and the acquisition is projected to directly bring a positive yield for the consolidated financial condition of PT Kino Indonesia Tbk.