Indomie maker's offer for Indofood Agri Resources lapses

INDOMIE maker Indofood Sukses Makmur's buyout offer of 32.75 Singapore cents per share for mainboard-listed Indofood Agri Resources has lapsed.

As at the close of the offer on June 25, 5.30 pm, the shares owned, controlled or agreed to be acquired by the offeror and its concert parties, including valid acceptances of the offer, resulted in a shareholding of 88.08 per cent.

Indofood Sukses Makmur's offer was conditional upon the concert group holding more than a 90 per cent stake in Indofood Agri. As a result, the offer has lapsed and all offer shares tendered in acceptance of the offer will be returned to shareholders.

The offeror and its concert parties will own 74.53 per cent of Indofood Agri after offer shares have been returned to shareholders who had accepted the offer.