BreadTalk to Takeover Lippo-Owned Food Court

By Editorial Team 04/09/2019
Summary

BreadTalk Grup has purchased all of Food Junction Management (FJM) shares from Auric Pacific Group (APGL) at US$ 80 million or around Rp 817 billion. Auric Pacific Group (APGL) is affiliated with the Lippo group since 50.3 percent of its shares owned by Lippo China Resources, while Lippo Limited controls around 74.99 percent of Lippo China Resources’ shares. The remaining 49.7 percent of APGL’s shares owned by Stephen Riyadi and his son in law, Andy Adhiwana, through their respective investment companies.

Previously, Lippo Group, through PT Lippo Karawaci Tbk (LPKR), released its ownership over Lippo Mall Puri. Lippo’s property company sold the mall to the Lippo Mall Real Estate Investment Trust (LMIRT), one of Lippo Group’s sub-holdings in Singapore. The transaction generates around Rp 3.7 trillion worth of fresh funds. LPKR also earned Rp 300 billion after selling its two Myanmar-based hospitals.

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