Kimia Farma (KAEF) completed the acquisition of Phapros Rp 1.36 trillion from RNI

CORPORATE ACTION - JAKARTA. PT Kimia Farma Tbk (KAEF) completed the acquisition of shares of PT Phapros Tbk (PEHA) owned by PT Rajawali Nusantara Indonesia (RNI), Wednesday, (27/3). As much as 56.77% or around 476 million PEHA shares held by RNI are now turning to KAEF.

"Today, Phapros has officially become a subsidiary of Kimia Farma," said Wahyu Kuncoro, Deputy Minister of the Agro and Pharmaceutical Industry of the State-Owned Enterprises, Wednesday (3/27).

Wahyu said the acquisition was the first step to realize the establishment of a pharmaceutical holding.

Later, the pharmaceutical holding leader is held by PT Bio Farma. The plan to establish a pharmaceutical holding which includes, PT Bio Farma, PT Kimia Farma Tbk (KAEF), PT Indofarma Tbk (INAF) and PT Phapros Tbk (PEHA) is targeted to be in the first semester of 2019.