Sukanto Tanoto's Isola Castle Gears Up for $3.3 Billion Vinda International Takeover

Sukanto Tanoto, founder and chairman of Royal Golden Eagle's Isola Castle, is preparing to finalize the HK$26 billion ($3.3 billion) takeover of Chinese tissue paper maker Vinda International Holdings. Last week, Isola Castle received acceptances from Vinda shareholders, allowing the compulsory acquisition of the rest of the company’s shares. The takeover offer will remain open until April 2 and will not be extended. This acquisition expands the existing pulp and paper operations of APRIL, which is part of Tanoto’s Royal Golden Eagle. Belinda Tanoto, managing director of RGE, expressed enthusiasm for building a stronger and more sustainable business with Vinda. With a net worth of $3.1 billion, Tanoto has also been expanding into the tissue business and building his property portfolio under Pacific Eagle Real Estate. Pacific Eagle has been active in the Singapore real estate market in recent years, including acquiring the Tanglin Shopping Centre and opening the Mondrian Duxton hotel.