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Hitt og þetta 25. apríl 2006

United Plantations to acquire land in Indonesia

Nordic Business Report-April 25, 2006-United Plantations to acquire land in Indonesia
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The Danish holding company United International Enterprises Ltd said on Tuesday (25 April) that its 43.1%-owned subsidiary, the Danish-Malaysian plantation group United Plantations, had proposed a 95% acquisition of two Indonesian plantation companies.

United Plantations had entered into agreements to acquire a 95% equity interest in PT. Surya Sawit Sejati and PT. Mirza Pratama Putra for a total consideration of USD9.02m.

Upon completion of the acquisition United Plantations would have access to some 29,600 hectares of land in Indonesia, which would increase the total plantation area by more than 70% to 70,142 hectares.

One US dollar (USD) is worth approximately 0.57 British pounds (GBP).

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