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Indonesia’s Kimia Farma acquires majority shares of Phapros

Kimia Farma office (Image credit: Kimia Farma)

JAKARTA (RambuEnergy) – State-owned pharmaceutical company PT Kimia Farma Tbk has on March 27 finalized the acquisition of 56.77% or 476.90 billion units shares of PT Phapros Tbk from PT Rajawali Nusantara Indonesia.

As a result of the acquisition, Kimia Farma now controls 56.77% shares of Pharos, making it as the single majority shareholder in the pharmaceutical company.

Kimia pharma is a produer of pharmaceutical products, healthcare, chemical, biology, health equipment and healthy drinks.

The Indonesian government holds 90% series-B and Series-A Dwi Warna shares in Kimia Farma and control 100% shares of RNI. Therefore, the acquisition is an affiliated transaction.

The acquisition is likely to strengthen Kimia’s position as a major pharmaceutical industry player in the country. (*)

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