Owners of Indonesian Palm Oil Producer ANJ Said to Consider Sale

Feb. 28, 2024, 10:20 AM UTC

The two main owners of PT Austindo Nusantara Jaya are considering selling their stakes in the palm-oil producer and seeking a valuation of $400 million to $500 million, according to people familiar with the matter.

Financial advisers have been asked to submit proposals for the possible sale of the Jakarta-listed company known as ANJ, the people said, asking not to be named as the matter is private.

The shareholders are PT Austindo Kencana Jaya and PT Memimpin Dengan Nurani, which both own 40.9% in ANJ, according to data compiled by Bloomberg.

ANJ’s shares have fallen about 6% this year, giving ...

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