Thailand's Mitr Phol Acquires Sugar Factory Kebun Tebu Mas

By Editorial Team 24/08/2023
sugar
Summary

Thai producer of sugar and bio-energy, Mitr Phol, acquired a 75 percent stake in the Indonesian sugar producer PT Kebun Tebu Mas (KTM).

Channel News Asia reported that Mitr Phol is strategically positioning itself for a prominent role in Indonesia's sugar industry by acquiring KTM. However, Mitr Phol has not disclosed the precise financial details of this share purchase.

Commodity trading firm Czarnikow served as an advisory partner to Mitr Phol. Czarnikow reports that KTM, situated in East Java, yields an annual production of approximately 400,000 tons of refined sugar.

"Indonesia is experiencing rapid growth and presents considerable potential for global players in food, energy, and logistics," Stefano La Valle, Head of Corporate Finance at Czarnikow Asia, said.

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