JAKARTA (TheInsiderStories) - PT Tuah Turangga Agung, a unit of PT United Tractors Tbk (IDX: UNTR) acquired a coal company, PT Suprabari Mapanindo Mineral (SMM) for a maximum value of US$45.73 billion. Sara K. Loebis, Corporate Secretary UNTR in an official statement said, the signing of the Conditional Shares and Purchases Agreements (CSPA) on the acquisition plan was conducted on Oct. 11.
The closing of the transaction will be effective once all conditions stipulated in the CSPA has been met within a period of not more than six months since is signed. After the transaction is done, Tuah Turangga will become the majority shareholder, controlling 80.1 percent of the shares of SMM. (*)