It was announced yesterday March 14 that Philip Morris International PMI - maker of Marlboro and LM cigarette brands - has made a bid to buy Indonesia's iconic Sampoerna clove cigarette company. PMI has agreed to pay the Sampoerna family Rp10,600 a share for its 40% stake and will now launch a public tender for the remaining 60% of the company listed on the stock market at the same price.
The total size of the deal, if 100% of the company is acquired, will be Rp48 trillion $5.2 billion. This will make it the largest cross border MA deal in Indonesian history.
The price...
