Etika completes the acquisition of Salamie

JAKARTA: Etika International Holdings Limited, the Malaysia-based giant processed food and beverage in Asia, has completed the acquisition process of 30% shares of PT Sentrafood Indonusa and PT Sentraboga Intiselera, a producer and distributor of instant noodles Salamie, for IDR24.20 billion.In addition, the acquisition action has been realized through two subsidiaries of Etika Holdings, namely PT Etika Indonesia and PT Etika Marketing.Automatically, Etika Holdings will compete with Indofood group (a brand-holder of Indomie) and Wings Group (a brand-holder of Mie Sedap) that are market leaders in the instant noodles market in Indonesia.Food and beverage business is a new segment for us. Now, we are moving forward to create stronger foundation in this segment, Etika Chairman Datuk Jaya Tan in a yesterdays official statement.(T01/NOM)