Fast Food Indonesia, the operator of KFC outlets in Indonesia, has sold a portion of its shares in subsidiary Jagonya Ayam Indonesia to Shankara Fortuna Nusantara for USD 3.35 million.
Shankara—owned by conglomerate Samsudin Andi Arsyad—operates in the chicken meat and various processed products sector.
Dalimin Juwono, Corporate Secretary of Fast Food, said the transaction included 41.8% of Series A shares, equivalent to 15% of all shares issued by Jagonya Ayam.
“Fast Food still maintains its position as the controlling shareholder with a 55% ownership in Jagonya Ayam,” he stated.
Mr Juwono explained that by remaining the controlling shareholder, Fast Food will continue to benefit from Jagonya Ayam’s efficient chicken meat and product supply prices.
He added that Jagonya Ayam’s integrated poultry operations, which includes breeding, feedmilling, hatchery, farming, slaughterhouse, and processing, also contributes to Fast Food’s profitability.
Finally, Mr Jowono believes Shankara’s involvement will expand Jagonya Ayam’s competitiveness, operations, and financial capability.
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