CP Prima Buys Indonesian Shrimp Farm

PT Central Proteinaprima, an Indonesian unit of Asia's biggest poultry producer, won a bid to
buy PT Dipasena Citra Darmaja, an Indonesian shrimp farmer, for 688.1 billion rupiah ($79 million). Its shares surged.

Central Proteinaprima, or CP Prima, is owned by Thailand's Charoen Pokphand Group. It led the Neptune group, whose bid beat an offer from a group known as Kemilau Bintang Timur, the state asset sale agency, President Director PT Perusahaan Pengelola Aset Mohammad Syahrial, said today.

The acquisition will expand the operations area of CP Prima, Indonesia's biggest shrimp breeder, to 202,250 hectares (499,558 acres) from 16,000 hectares. Dipasena has 186,250 hectares of shrimp farm in Lampung in southern Sumatra, according to the asset sale agency.