PT Gozco Plantations Tbk (JKSE:GZCO) acquired 99.99% stake in PT Palmdale Agroasia Lestari Makmur (PALM) from PT Palma Sejahtera for approximately IDR 180 billion on December 29, 2015. Under the transaction, Gozco Plantations acquired 0.36 million shares of PALM. In a related transaction, PT Gozco Plantations acquired 99.99% stake in PT Telaga Sari Persada from PT Palma Sejahtera for IDR 56.6 billion. As at September 30, 2015, PALM reported total assets of IDR 750.5 billion and total common equity of IDR 401.4 billion.

PT Gozco Plantations Tbk (JKSE:GZCO) completed the acquisition of 99.99% stake in PT Palmdale Agroasia Lestari Makmur (PALM) from PT Palma Sejahtera on December 29, 2015.