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About: http://data.cimple.eu/news-article/e458ca60773ee98fc54d873830e836f4921e16c4af5a64e7ffea4512 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Indonesia's Indofood CBP Sukses Makmur plans to buy instant noodle maker Pinehill for $3.0 billion as it eyes growth in Africa and the Middle East, according to a stock exchange filing. The Indonesian food and snack giant, which makes popular Indomie brand instant noodles, said its shareholders will vote on the proposed deal at a July 15 meeting. Indofood said the purchase "presents a golden opportunity to expand into fast growing and profitable new markets", according to the filing. Through its subsidiaries, British Virgin Islands-based Pinehill has a dozen factories with capacity to produce up to 10 billion packs of instant noodles annually, the filing said. Its key markets are Saudi Arabia, Nigeria, Egypt, Turkey, Serbia, Ghana, Morocco and Kenya. Pinehill's 2019 sales were about $533.5 million with pre-tax profits of $125.0 million, according to the filing. Indofood, whose shares closed nearly 2.0 percent higher in Jakarta Monday, posted revenue of some 12.01 trillion rupiah ($857 million) in its latest financial year. - Bloomberg News contributed to this report - pb/fox
schema:headline	Indonesia's Indofood eyes $3 bn purchase of noodle-maker Pinehill
schema:mentions	Virgin Group Fox Indomie Bloomberg L.P. Noodle Indonesian rupiah Instant noodle Serbia Jakarta Middle East Egypt Morocco Ghana Africa Turkey Indonesia Saudi Arabia Kenya Nigeria United Kingdom Pinehill, New Zealand Indofood Key Markets
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-06-08 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	62 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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