PALMOILMAGAZINE, JAKARTA — Palm oil company PT Teladan Prima Agro Tbk (TLDN) has officially strengthened its position in the plantation sector by acquiring nearly all shares of PT Cipta Davia Mandiri (CDM). The transaction marks a significant milestone in TLDN’s long-term growth strategy, establishing the company as the full controlling owner of CDM.
In a public disclosure, TLDN’s Corporate Secretary Arya Wibisana announced that the acquisition was completed on June 13, 2025. Through the signing of a share takeover deed, TLDN acquired 18,157,199 shares—equivalent to 99.99% ownership—from PT REA Kaltim Plantations.
“With the completion of this transaction, CDM is now officially a wholly controlled subsidiary of TLDN and will soon be integrated into our business structure,” Arya stated, as reported by Palmoilmagazine.com on Wednesday, June 18, 2025.
Also Read: TLDN Acquires PT CDM to Expand Land Bank and Strengthen Sustainability Commitment
The total value of the acquisition stood at Rp136.32 billion, lower than the initial estimate of Rp160–210 billion. Nevertheless, TLDN management views the deal as a strategic move to strengthen its asset control and expand its palm oil production capacity.
The transaction does not fall under affiliated party transactions, as TLDN and REA Kaltim Plantations share no ownership or control relationships. Therefore, the acquisition does not involve any conflicts of interest, in accordance with Financial Services Authority Regulation (POJK) No. 42/POJK.04/2020.
CDM’s acquisition aligns with TLDN’s long-term expansion strategy outlined in its initial public offering (IPO) prospectus. The funds used for this purchase were part of the proceeds from TLDN’s IPO on April 12, 2022, when it listed on the Indonesia Stock Exchange (IDX).
During the IPO, TLDN issued 517.86 million shares at Rp100 per share, raising approximately Rp300.36 billion. Since then, TLDN’s share price has surged to Rp575—an impressive 475% increase from the IPO price.
Arya noted that the remaining IPO funds would be allocated for further acquisitions of palm oil companies, in line with the company’s aim to expand its portfolio and sustainably scale its business.
TLDN’s move adds to the growing list of corporate actions in the palm oil sector, as firms seek to strengthen their operations through asset integration and land acquisition. By becoming CDM’s controller, TLDN not only expands its production capacity but also boosts its competitiveness in an increasingly demanding industry, especially amid rising productivity and sustainability challenges.
With an aggressive expansion strategy and strong stock performance, TLDN signals its readiness to grow and adapt in meeting the evolving demands of the future palm oil industry. (P2)
