TEMPO.CO, Jakarta - Pharmaceutical issuer Kimia Farma has acquired a new subsidiary after acquiring 60 percent stake in Saudi Arabia's Dawaa Medical Limited Company. President director Honesti Basyir said the acquisition is a step to expand the company's market to the Middle East and Africa.
"We want to work on all the potentials that exist in Saudi Arabia," he said in Jakarta, Monday, March 5.
Kimia Farma made the acquisition by investing Rp130 billion in capital. The corporate action was carried out under Dawaa Medical's rights offering.
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