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Cargill Acquires Sorini in Indonesia

Published on 20 December, 2010, Last updated at 21:54 GMT
 

Cargill has agreed to pay $301m for an 85% share in Indonesian sorbitol producer Sorini Agro Asia Corporindo, as it seeks to consolidate its food ingredients business in South East Asia.

The company is buying the stake in Sorini for an equity value of $301m.

AKR Corporindo and UOB Kay Hian, which own a combined 85% of Sorini, have struck an agreement to sell their shares to Cargill.

The deal is expected to be completed in January next year.

Sorini's product range comprises starch and starch-derivative products, all used in the production of consumer goods such as food and beverages, cosmetics and personal care, and pharmaceuticals.

For the 12-month period ended 30 September, Sorini posted revenues of $188.6m.

 

 
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