#TITLE_ALTERNATIVE#

• Main Author: LESTARI (NIM 29106047), FITRINA
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/7933
• Institution: Institut Teknologi Bandung

Agrobusiness is a high capital investment and requires a long period. Nowadays, palm oil business is in a very good condition. This circumstance is driven by demand of CPO in developing countries such as China and India, along with change in people’s view about alternative resources of energy, like biofuel. <br /> <br /> <br /> <br /> <br /> <br /> <br /> In order to fulfill increasing market demand of palm product, Indoagri as agro-industry company will invest by enlarging area and increasing palm production, in a relatively short time. One method in doing the investment is by acquisting Agrobusiness Company such as Lonsum. Acquiring majority shares of Lonsum is done by offering certain value of price toward the Lonsum’s shareholders. <br /> <br /> <br /> <br /> <br /> <br /> <br /> This final project is focused in valuing Lonsum through financial aspect, in order to find out the fair value for direct shares buyout or for tender offering. Methods applied in valuing Lonsum are discounted cashflow analysis, market value method, and book value method. <br /> <br /> <br /> <br /> <br /> <br /> <br /> The calculation shows that the value of company ranges between Rp Rp 6.878.722.702.669 and Rp 9.353.883.823.533, with price per share ranges between Rp 5.041 and Rp 6.855. The price applied is Rp 6.600 per share for shares owned by control shareholders and Rp 6.855 per shares for tender offers. Suggested firm value is Rp. 9.129.329.751.015. Those values have to be minus with acquisition cost, so Lonsum get Rp. 8.136.547.350.884 for selling the company.