Merger of Indofarma-Kimia Farma delayed

JAKARTA: Merger of PT Indofarma Tbk and PT Kimia Farma Tbk, which was initially planned at the end of 2010, is delayed to 2011.Indofarma's Director of Finance Djakfarudin Junus said that the company is waiting for the final decision from Ministry of
News Editor
News Editor - Bisnis.com 17 Desember 2010  |  07:16 WIB

JAKARTA: Merger of PT Indofarma Tbk and PT Kimia Farma Tbk, which was initially planned at the end of 2010, is delayed to 2011.Indofarma's Director of Finance Djakfarudin Junus said that the company is waiting for the final decision from Ministry of State-Owned Enterprises as it has handed over the whole merger process to the government.Currently we are in the process of selecting the financial consultant. Later on, the financial consultant will determine the future of the merger plan," he said today.The merger forms part of company's development plan to product better quality products. According to data compiled by Bisnis, the merger plan of the two pharmaceutical companies have pocketed government's approval from in March 2009. Shares of Kimia Farma and Indofarma were traded at IDR161 and IDR80, respectively. (NOM)

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Editor : Muhammad Fariz Aulia

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