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Advanced Holdings to acquire Indonesian palm and timber plantations in RTO deal

PC Lee Published on Mon, Jan 23, 2017 / 7:44 AM GMT+8

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SINGAPORE (Jan 23): Advanced Holdings is proposing the acquisition of the entire interest in Agricole Global for a purchase consideration of $180-240 million.

The Agricole Global group collectively holds concessions to 23 parcels of agricultural permits in Indonesia to be cultivated into crude palm oil plantations, as well as two forestry concessions for timber management, subject to completion of a group restructuring exercise.

The assets are held via Indonesian companies which are, or will be, subsidiaries of the target company.