CCK Consolidated has signed a binding term sheet with Astrantia Sdn Bhd, a special purpose vehicle company of a fund advised by Creador Sdn Bhd, to acquire a 40% equity stake and make an investment in CCK’s subsidiary, PT Adilmart.
Adilmart is engaged in the production of frozen foods, including sausages and other processed meat products. The company, along with its wholly-owned subsidiary, CCK Fresh Mart Sdn Bhd, holds 96.25% and 3.75% equity interest in Adilmart, respectively.
According to the Term Sheet, Astrantia is proposing to acquire 40% of the increased issued ordinary shares in Adilmart. This will involve acquiring existing Adilmart shares from the Vendors and subscribing for new Adilmart shares, with a total estimated investment of RM170 million.
