JAKARTA (Yosefardi) – PT Indofood CBP Sukses Makmur Tbk (ICBP), through its unit PT Indofood Asahi Sukses Beverage (IASB) and PT Asahi Indofood Beverage Makmur (AIBM), and PT Multi Bahagia (MB) have set up a joint venture (JV) company named PT Tirta Makmur Perkasa.
The JV will manufacture and distribute bottle water in Indonesia. This JV would challenge Danone, which controls more than 50% market share through its famous brand Aqua. Multi Bahagia only holds 3% of market share currently.
Asahi and Indofood have earlier joined forces in the non-alcoholic beverage production and distribution in Indonesia. They will establish two separate JVs for manufacturing and distribution, in which Asahi Indofood Beverage Makmur will hold 80% shares in both JVs.
At 9.58 am Jakarta time, ICBP fell 0.45% to US$11,150 per share.