PT Salim Ivomas Pratama, Tbk. (SIMP) and PT London Sumatra Indonesia, Tbk. (LSIP), plan to merge.
Source closed to the deal was reportedly cited that an official statement submitted to Indonesia Stock Exchange (IDX) by the end of April. LSIP's board of commissioner was reported to have recently supported the proposed merger. "Board of commissioner has supported the merger as long as it is in line with the regulation," internal source said. Both Salim Ivomas and Lonsum, are controlled by Salim family. PT Salim Ivomas Pratama Tbk manages Lonsum by 56.39%, Indofood Agri Resources Ltd 8.03%, Empire Energy Resources Pte Ltd 5.24%, and public by 30.16%.
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