Jakarta - Shareholders of PT Garudafood Putra Putri Jaya Tbk (GOOD) have sold their shares to Hormel Foods International Corporation for the equivalent of 10.76 billion shares, or 29.185% of the issued capital.

"The purchase and sale transaction for Garudafood shares was carried out on December 15, 2022," said BAIK Corporate Secretary I Made Astawa in information disclosure on Monday (12/19).

It was explained that a financial partner, Pelican Company Limited, was among the shareholders who sold their shares, which had invested in the company in 2018.

With the release of these shares, he ensured that there would be no material impact on the company's operational activities, financial condition, or business continuity.