JAKARTA: PT Perusahaan Perkebunan London Sumatera Indonesia Tbk through its recently established unit, Agri Investments PteLtd, acquired 26.4% shares of Heliae Technology Holdings Inc.
The acquisition over the 3.58 million shares was conducted on May 1 at price US$15 million, said Lonsum’s Corporate Secretary Endah R. Madnawidjaja.
Heliae is a Arizona, US-based company works on algae technology solutions. Its technology and precision farming process will advantage both companies to overcome soil fertility and water issues. (T05/aph)