Sri Rejeki Isman and Sinar Pantja Djaja will acquire two companies
By : Hariyanto And Aldi Firhand. A | Friday, February 09 2018 - 21:56 IWST

PT Sri Rejeki Isman Tbk (SRIL)
INDUSTRY.co.id - Jakarta - PT Sri Rejeki Isman Tbk (SRIL) and PT Sinar Pantja Djaja (SPD) are planning to take over PT Primayudha Mandirijaya (PM) and PT Bitratex Industries (BI).
The two companies to be purchased belong to THG Pte Ltd, Tolaram Industries Pte Ltd, Krishna Kumar Agrawal, Manmeet Singh, and Arvind Kumar Shankerlal Ladha. These parties are called PM sellers.
Other Sellers with BI are One Sovereign Investment Pte Ltd, Thakral Investments Limited, Asean Interest Limited, Sohans Enterprise Limited, Sohans Emporium Pte Ltd, Arvind Kuhar Shankerlal Ladha, and Krisna Kumar Agrawal.
The buyers and sellers agree the transfer of shares is done in two stages.
The first phase consists of the transfer of 82% of shares in each BI and PM by the sellers to the company and executed on February 7, 2018 and working days, after the approval of the Investment Coordinating Board (BKPM) related to the transfer of the shares.
The second phase consists of transferring 18% of shares in each BI and PM by the sales to relevant buyers and conducted on 20 March 2018 and one business day after the issuance of BKPM approval related to the transfer of these shares.
"On February 7, 2018, the company has executed the first phase of share transfer, in accordance with the terms of a conditional sale and purchase agreement with a total transaction value of US $ 69,699 million," said Director Allan Moran Severino in the information disclosure BEI Friday (9/2/2018).
He continued, the total value of the second phase stock in BI and PM is US $ 15.3 million and the payments are made in two installments.
"The first installment of US $ 7.3 million will be paid by March 20, 2018 and the second installment for the remaining amount will be paid after the purchase price has been agreed or adjusted by an independent appraiser to calculate the asset value of BI and PM on the date of the first phase of share transfer," he explained.
He stressed that the company has no affiliation with the sellers involved in the conditional sale and purchase agreement. (imq)
Read Also
Today's Industry

Senin, 09 Juni 2025 - 14:22 WIB
Savyavasa and Permata Bank Launch Exclusive Foreign Mortgage Program
Savyavasa, a luxury residential development by Swire Properties and JSI Group under PT Jantra Swarna Dipta, in collaboration with Permata Bank, presents a new solution for foreign nationals…

Rabu, 21 Mei 2025 - 10:09 WIB
Indonesia, Thailand Sign MoU on Health Sector, Focusing on Global Capacity, Collaboration
As a part of President Prabowo Subianto’s official visit to Thailand, both countries signed a Memorandum of Understanding (MoU) on health sector, in an effort to strengthen bilateral cooperation…

Rabu, 21 Mei 2025 - 10:06 WIB
Indonesia, Thailand Deepen Cooperation on Security, Trade, and Regional Stability
resident Prabowo Subianto has reaffirmed Indonesia’s strong commitment to deepening bilateral relations with Thailand during the meeting with Thailand’s Prime Minister Paetongtarn Shinawatra…

Selasa, 20 Mei 2025 - 12:44 WIB
Boediman Widjaja's Technology Ready to be Adopted in Jababeka Industrial Estate (KIJA)
In an exclusive seminar entitled "A Great Step: Boediman Widjaja Story - Going from Indonesia, Thriving in Singapore" held at the President Lounge, Menara Batavia, Boediman Widjaja, Founder…

Jumat, 02 Mei 2025 - 10:46 WIB
Binawan and Government Support Indonesian Nurses in Europe through Scholarships
In the midst of the viral #KaburAjaDulu hashtag as a symbol of the young generation's disappointment with domestic working conditions, Binawan responded with real action: dispatching Indonesian…
News Comment