Indofood Agri Resources Sells 8% Stake In Indonesia's Lonsum

SINGAPORE, KOMPAS.com - Indofood Agri Resources Ltd.said Wednesday that it has sold its 8% stake in Indonesia's Lonsum for S$183.8 million.

In a filing to the Singapore Exchange, the palm oil plantation company said that 3.1% of Lonsum was sold to PT Salim Ivomas Pratama for S$70.7 million and 4.9% went to investors through a private placement for S$113.1 million.

Lonsum group is involved in breeding, planting, milling and selling of oil palm products. It is also engaged in other products such as rubber, cocoa and tea.