Halcyon Agri Corporation has purchased four Indonesian rubber factories for S$86.75 million.
The deal came out of a memorandum of understanding in December between Halcyon Agri and vendors Liauw Chiang Sioe and Sjahrir Iskandar to buy the entire stake in PT Sumber Djantin (PTSD) and PT Sumber Alam (PTSA). The targets own four crumb rubber factories in West Kalimantan, Indonesia.
PTSD and PTSA are now indirectly wholly owned subsidiaries of Halcyon Agri.