CORRECTED: Japanese packaging maker Rengo buys shares in Indonesian peers

Economy

Japanese packaging maker Rengo Co. has bought shares in three Indonesian corrugated container producers through its Thai affiliate, Thai Containers Group Co., for 822 billion rupiah ($57 million). The acquisitions involve 75 percent each of PT Indonesia Dirtajaya Aneka Industri Box, PT Bahana Buana Box and PT Rapipack Asritama, collectively called the Intan Group. The deal was carried out by Thai Containers Group's wholly owned TCG Solutions Pte. Ltd., according to Rengo. The investment amount may rise up to 859 billion rupiah depending on Intan Group's incremental financial performance for fi...

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