JAPFA has declined comment on a potential privatisation deal speculated in a Bloomberg article.
The Mar 8 article reported that the owners of Japfa are considering taking the mainboard-listed company private and have started talks for a loan that would back any such move.
The mainboard-listed agri-food company said on Monday (Mar 11) that it “does not consider it appropriate” to comment on the matters that are not actions of the company or the board.
The board said that its key shareholders, Renaldo Santosa and his family, are approached by various finance professionals from time to time to consider a variety of transactions, and as a matter of practice, the family typically assess all such proposals.
“As a result, the family are regularly engaged in exploratory discussions regarding various corporate actions, including ones both similar and different to what is currently being reported on,” said the second-largest poultry maker in Indonesia.
The board also said that there is no certainty that any definitive agreement will be entered into, or any transaction will materialise.
The counter of Japfa closed on Friday up 8 per cent at S$0.215.
