Singapore-based Food Empire sold its entire stake in Indonesia-based Marindo Makmur Usahajaya, which manufactures frozen seafood products.
The Food Empire Holdings Limited's board of directors announced the company's wholly-owned subsidiary, Future Investment Holdings Pte Ltd (FIHPL) "disposed its entire 40 percent equity stake in PT Marindo Makmur Usahajaya to PT Kelola Mina Laut and Mohammad Nadjikh for a total cash consideration of $900,000 (€808,360),"Tan Cher Liang, company secretary at the firm, said Tuesday.
Marindo was a wholly owned subsidiary of Kelola Mina Laut when Food Empire purchased the 40 percent stake using internal resources in October 2009.
Food
