KKR and Bunge have expressed interest in buying 88% of PT Golden Plantation, a unit of TPS Food, which owns 49,000 hectares of oil palm plantations in Kalimantan, Riau and Sumatra, Indonesia.
Kohlberg Kravis, Bunge Agribusiness express interest in Golden Plantation
Mon Nov 24, 2014 8:40pm EST
Kohlberg Kravis Roberts & Co LP and Bunge Agribusiness Singapore Pte Ltd, have expressed interest in buying 88 percent shares of PT Golden Plantation, a unit of PT Tiga Pilar Sejahtera (TPS) Food Tbk, Investor Daily reported, citing TPS Food's Finance Director, Sjambiri Lioe.
The stake is worth between $80 million and $90 million, he added. Golden Plantation owned 49,000 hectares of oil palm plantation in Kalimantan, Riau and Sumatra as of June 30 and has planted more than 17,000 hectares of oil palm. The company has a palm oil processing capacity of 30 tonnes of fresh fruit bunches per hour and aims to boost it to up to 45 tonnes by 2017.