KLK Plantations and Trading Pte. Ltd. entered into Conditional Shares Sale and Purchase Agreement to acquire 92% stake in PT Satu Sembilan Delapan from Batu Kawan Berhad (KLSE:BKAWAN) for IDR 880 billion on December 14, 2023. The Proposed Acquisition will be funded by KLK?s existing cash reserves.

The deal is subject to consummation of due diligence. The deal is expected to be completed in the 4th Quarter of 2023, subject to the fulfilment of all conditions precedent.