CP unit to bid for aquaculture firm

The Fish Site
by The Fish Site
1 May 2007, at 1:00am

THAILAND - The world's biggest shrimp producer, PT Central Proteinaprima (CP Prima), plans to bid for Indonesian aquaculture firm, PT Dipasena Citra Darmaja, in a move that would further expand its shrimp-farming business.

CP Prima - a uni of Thai agribusiness firm Charoen Pokphand Group (CP) - says it will participate in the auction of the Dipasena, to be held by the State Asset Management Company (PPA) on May 25.

A statement from operations director Erwin Sutanto said that CP Prima had already instructed Barclays Capital and BNP Paribas to manage the financial aspects. The company iseriousness in arranging the necessary resources to meet the requirements for the acquisition of Dipasena.

The decision to acquire Dipasena is part of its plan to expand its network in the shrimp-farming sector and to strengthen its position as market leader in the aquaculture business.

Erwin said that the company had paid a deposit of 25 billion rupiah (Bt95.7 million) as a pre-condition set by the PPA for participating in the Dipasena sale.

Source: The Nation