M.P. Evans Group completed the acquisition of Agro Bumi Kaltim and Nusantara Agro Sentosa for $60m.

Transaction Tags

• planting
• Indonesia
• Farming Fishing Ranching and Plantations
• Acquisition
• palm plantations
• Private
• Cross Border
• Completed
• Single Bidder
• oil-palm planters
• Majority
• Friendly

Synopsis

M.P. Evans Group, an operator and manager of plantations, completed the acquisition of oil-palm planters Agro Bumi Kaltim and Nusantara Agro Sentosa, for $60m. "The addition of the estates at ABK and NAS to the Group portfolio is a great achievement and will bring our total area under management to over 65,000 hectares. We have been very keen to acquire more hectares close to Kota Bangun for some time, and having the ABK estate supplying its crop to our existing mills will further enhance our operational efficiencies. With more hectares delivering more crop, we will be able to continue to increase our output, supporting the Group's ambition to deliver progressive returns," Peter Hadsley-Chaplin, M.P. Evans Chairman.

Sources