SINGAPORE (Oct 28): Mewah International has acquired a 95% stake in PT Angso Duo Sawit, an Indonesia-based palm oil company, for IDR 136.5 billion ($14.6 million).

The group said in a filing to the Singapore Exchange that the purchase consideration will be funded internally and accounted for the location and potential of its assets, the commercial attractiveness of the business and the prevailing market conditions.

However, the transaction remains subject to a due diligence process and regulatory approvals.

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