Creditors hold up Indonesian deal
CREDITORS owed more than US$1 billion (£619m) are holding up the sale of a 60% stake in Indofood Sukses Makmur, Indonesias biggest food producer.
The group is being sold to First Pacific of Hong Kong and Nissin, a Japanese food maker.
Shareholders in Indofood have approved the sale, but First Pacific has told the Hong Kong stock exchange that third-party consents have not been fulfilled.
Indofood is owned by the financially-stretched Salim Group.
- Financial Times 13/04/99 page 27