Indonesian flour miller buys interest in Singapore ship operator
The Indonesian operator of the world’s largest flour mill announced this week that it will acquire a controlling interest in a Singapore-based ship operator as a way to reduce the transportation cost of its wheat shipments, according to a June 13 Bloomberg news report.
Through the deal, PT Indofood Sukses Makmur will buy the controlling stake from Shinetown Holdings Ltd. in Jakarta for $42.5 million. The carrier Pacsari Pte. operates two bulk vessels each with a capacity of 77,755 tons, Bloomberg reported.
Indonesian flour miller buys interest in Singapore ship operator
