Japfa Comfeed sells Vaksindo vaccine unit for $101M in affiliate deal
What's the deal? PT Japfa Comfeed Indonesia (JPFA)Dealroom has a profile for this one. Try Dealroom → has sold its entire stake in animal-vaccine maker PT Vaksindo Satwa NusantaraDealroom has a profile for this one. Try Dealroom → for US$117.7M (roughly $101 million). The buyers are Japfa Pte. Ltd. — JPFA's controlling shareholder with a 56.34% stake — and Bionovus.
The terms: The sale covered 31,000 shares, 100% of Vaksindo's issued capital, plus the VAKSINDO, VAKSIMUNE, and VITAKUR trademarks. Payment was made on September 29, 2026.
Why now? JPFA said the divestment aims to make its capital structure more efficient and align long-term capital allocation. After the sale, it no longer needs to fund Vaksindo's expansion, which is largely directed outside Indonesia.
What changes? JPFA will stop consolidating Vaksindo's revenue, profit, and assets — including subsidiaries in India and Vietnam — into its financial statements. The deal equals 8.47% of JPFA's consolidated equity as of June 30, 2026. The two companies' supply relationship for livestock farming materials is expected to continue on substantially the same terms.
What could go wrong? Because JPFA, seller PT Ciomas Adisatwa, and buyer Bionovus share the same parent, Japfa Pte. Ltd., this is an affiliate transaction. JPFA said it is not a conflict-of-interest deal and appointed independent appraiser KJPP Ruky, Safrudin & Rekan, which valued Vaksindo at US$117.7M.
The signal: By moving a globally focused vaccine business up to its parent, JPFA sharpens its domestic focus while keeping the operating ties that matter to its core livestock business.
Read more: idnfinancials.com
Image credit: agriculturede
