Salim Group Acquisition of Aetra Shares from Recapital Worth Rp1.24 Trillion

By : Hariyanto And Aldi Firhand. A | Saturday, September 02 2017 - 21:30 IWST

Illustration of drinking water supply system (SPAM)

INDUSTRY.co.id - Jakarta - Salim Group through PT Moya Indonesia Ptl Ltd, acquired 100% of PT Acuatico Pte Ltd, the largest shareholder of PT Aetra Air Jakarta from Recapital Advisor with a transaction value of US $ 92.87 million, equivalent to Rp 1.24 trillion.

With the acquisition, Salim Group officially became the new owner of PT Aetra Air Jakarta, PT Aetra Air Tangerang and PT Aetra Air Indonesia, replacing Recapital, a company owned by Sandiaga Uno and Rosan P. Roslani.

In the announcement of the acquisition on the Singapore stock exchange, August 23, 2017, Moya calls corporate action completed on June 11, 2017 ago.

"Moya Holding Asia, as of June 8, through Moya Indonesia Holdings Pte Ltd acquired Acuatico Group valued at US $ 92.87 million," Moya Holdings Asia Ltd, Indonesia's parent Moya, said.

In addition to the acquisition, in the same document, Salim, who became Moya's controller since 2015, also paid Aquatico debt of US $ 152.31 million, equivalent to Rp 2.1 trillion.

After the acquisition, Moya will control Aetra in clean water management in Jakarta until 1 February 2023 for 440,000 subscribers. Meanwhile, for the Tangerang area serving 360,000 customers with the contract expired October 2, 2034.

PAM JAYA's President Director Erlan Hidayat admitted to having heard of Aetra's ownership change. But there has been no official information from Aetra. "If bener was not influential because Aetra deliver to PAM Jaya," he said on Wednesday (8/30/2017).

According to him, Aetra Air Jakarta has been handling work from upstream to downstream in the capital. If the contract expires, PAM Jaya will change the contract. Because, According to PP No 122/2015, upstream and downstream must be handled BUMN, BUMD, or PDAM. Middle of Palyja and Aetra. "We are still persuading Aetra in that direction," Erlan said.

Erlan said that in the forward water business contract, there are four important points that must be agreed, namely PAM Jaya and regulators must live, Jakarta Provincial Government must get the money from Aetra Air Jakarta's last private business must be the entire debt to PAM Jaya.