MP Evans has completed the acquisition of additional planted hectarage in East Kalimantan that was announced on 16 April. The acquisition is consistent with MP Evans’ stated strategy and is another low-risk acquisition at a sensible price. The US$35.1m acquisition is funded from existing cash resources and should be immediately earnings enhancing. The price is equivalent US$12.6k per hectare, which reflects the higher quality of acquired planted land compared with prior acquisitions. We believe ....
