People Behind Acquisition of Gozco’s Palmdale

Shares of PT Gozco Plantations Tbk (GZCO) gained 4% Tuesday (Nov 29) as investors responded positively the Company’s decision to divest 99.9% shares in PT Palmdale Agroasia Lestari Makmur to PT Bangka Bumi Lestari for nominal value of Rp300 billion. The divestment would set GZCO free from obligations related to Rp400 billion loan facilities provided by some banks to Palmdale.

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