Royal Numico has sealed the privatization of its Indonesian baby food subsidiary PT Sari Husada.
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The Dutch food group, which itself accepted a EUR12.3bn (US$16.8bn) takeover bid from Groupe Danone, said the Indonesian government has approved the move, following the delisting of the business last year.
Gerrit Keyaerts, president commissioner of Sari Husada, said: “I would like to express my gratitude to Sari Husada’s board of directors who has played an instrumental role in this process and in fortifying the foundations of this great business over the last years.”
Danone needs Numico investors holding 66.67% of the company’s shares to approve the offer for it to succeed. The French company plans to issue an offer memorandum to Numico shareholders next month.
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