SINGAPORE (Oct 11): GCCP Resources, a Malaysian calcium carbonate quarry company, is buying an Indonesian palm oil company PT Arjuna Utama Sawit in a reverse takeover deal worth $220.3 million.
GCCP plans to pay for this acquisition by issuing 3.67 billion new shares at six cents each. The sellers are Premier Palmoil Energy and PT Oilim Agriculture, described as independent third parties.
The value of this deal is based, for now, on an internal valuation, which will then be put before an independent valuer.
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