Pikko Land Acquires Royal Oak Development Asia;

08 September 2011; Hits View, 5898

JAKARTA (IFT) - Pikko Land Corporation from Singapore purchased 68.1 percent stake in PT Royal Oak Development Asia Tbk (RODA). Pikko Land stated that the purchase is a part of strategic plan to expand its urban property business. Pikko will also perform an obligatory tender offer to purchase the remaining stake in Royal Oak at Rp 175 per stock. Royal Oak's latest price was Rp 225 per stock. (*)


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