AKRA Closes Deal with Cargill for divestment of Sorini shares

PT AKR Corporindo Tbk. (“AKRA”) today completed divestment of all its
shareholding in PT Sorini Agro Asia Corporindo Tbk  (“SAAC”) by crossing
629,166,945 shares (68.82% of SAAC issued capital)  with PT Cargill Foods
Indonesia (“CFI”) which is 99.99% held by Cargill Luxembourg 6 S.a.r.l. The signing
of the CSPA with Cargill Luxembourg 6 S.a.r.l. was  announced on 15 December
2010 and was subject to shareholder approval. 
 
The transaction received approval of the shareholders at the Extra ordinary General
Meeting of AKRA held on 26 January 2011 - with shareholders representing 87.57%
of the total issued shares attending either in person or by proxy  
 
AKRA sold the SAAC Shares to Cargill at Rp 3,500 per share, in a cash transaction
which raised over Rp 2.2 trillion for the company. 
 
“The completion of SAAC divestment is an important  step for AKRA and we are
pleased that the sale process was concluded expeditiously and benefits AKRA
stakeholders” said Mr. Haryanto Adikoesoemo, President Director of AKRA.
 
“This divestment is in line with AKRA business focus and strategy and it enables us
to further unlock shareholder value” said Mr. Haryanto Adikoesoemo. “The
divestment will enable AKRA to reinvest toward energy, petroleum and chemical
distribution and logistics infrastructure business  which present higher-yield and
better growth opportunity.”
 
“We thank the Management and employees of SAAC for  their dedication. We wish
them well for their future with Cargill as the new majority owner of SAAC” said Mr.
Haryanto Adikoesoemo.
 
 
“We also thank all our shareholders and look forward to their continued support and
interest in AKRA” he said.