PT Garudafood Putra Putri Jaya Tbk (IDX:GOOD) signed a memorandum of understanding to acquire 55% stake in PT Mulia Boga Raya Tbk (IDX:KEJU) from a group of shareholders on September 17, 2020. GOOD will acquire 825 million shares of KEJU. Transaction would impact change of control in KEJU. Transaction will be completed when the parties have reached final agreement.

PT Garudafood Putra Putri Jaya Tbk (IDX:GOOD) completed the acquisition of 55% stake in PT Mulia Boga Raya Tbk (IDX:KEJU) from Lie Po Fung, Sandjaya Rusii, Berliando Lumban Toruan, Agustini Muara, Marcello Rivelino Gunadirdja and Amelia Fransisca for approximately IDR 950 billion on October 14, 2020. PT Garudafood Putra Putri Jaya Tbk will pay IDR 1156 per share as consideration.