TEXCHEM acquires 51% shares of Technopia from Unilever Indonesia

JAKARTA: Texchem Resources Bhd has entered into a conditional sale and purchase agreement with PT Unilever Indonesia Tbk to acquire 51% shares comprising 38,250 ordinary shares in PT Technopia Lever for IDR1 billion per share.

With this agreement, Texchem agrees to pay IDR38.25 billion for 51% shares in Technopia from Unilever Indonesia, citing from information disclosure published on Bursa Malaysia today, (6/6).

The remaining 49% shares held by Technopia Singapore Pte Ltd, a wholly owned subsidiary of Texchem.

The rationale for the proposed acquisition of 51% equity interest in Technopia Lever (the beneficial owner of the “NOMOS” trademark) is to enable Texchem to secure the rights and ownership of the “NOMOS” trademark and its goodwill.

The acquisition of the “NOMOS” trademark and its goodwill is imperative for the completion of the disposal by the company of the 70% equity interest in Technopia Sdn Bhd and 70% equity interest in PT Technopia Jakarta to Fumakilla Limited of Japan.

PT Technopia Lever is alimited liability company duty established on September 2002 and engaged in the development, marketing, sales, export, import and distribution of mosquito coils and other household insecticides products in Indonesia.

PT Technopia has generated IDR1.9 billion and net asset of IDR8.9 billion for the financial year ended December 31, 2011.

Meanwhile, founded in Penang in 1973, the Texchem Group has established operations in Malaysia, Indonesia, Myanmar, Singapore, Thailand, Vietnam, China, Hong Kong and Japan.

From dyestuff trading, the have expanded into trading in industrial raw materials and speciality chemicals; manufacturing advanced industrial packaging, household insecticides; food processing and the restaurant sector, according the information from its official site. (tw)