Cargill To Buy Indonesian Sorbitol Co. For $300M

Law360, New York (December 15, 2010, 5:21 PM EST) -- Aiming to boost its food ingredients business in Asia, commodities giant Cargill Inc. on Wednesday agreed to buy Indonesian sorbitol producer PT Sorini Agro Asia Corporindo TBK for a total purchase price of 2.72 trillion rupiah ($300 million).

Cargill will acquire all 629 million ordinary shares of Sorini owned by its parent company, chemical manufacturer PT AKR Corporindo TBK, for 3,500 rupiah per share, subject to the approval of AKR's shareholders. At the same time, Cargill will purchase a block of ordinary shares from UOB Kay...
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