Pasardana.id – PT Samindo Resources Tbk (IDX: MYOH) is set to acquire 1,238,364,000 shares, equivalent to 74 percent ownership, in PT Transkon Jaya Tbk (IDX: TRJA) from MSJ Investama Abadi and Damai Investama Sukses.
Quoting the official statement from the company owned by Low Tuck Kwong on the Indonesia Stock Exchange (IDX) website, Friday (12/1/2023), the agreed transaction price is IDR 275 per share.
Thus, MYOH will invest IDR 307.32 billion, which is 6.12 percent higher than the public appraiser’s estimate.
It is explained that MYOH has provided four main services in the coal mining industry: overburden removal, coal production, coal transportation, and exploration drilling.
“Through the acquisition of TRJA, which is a provider of 4WD (four-wheel drive) vehicles, it will complement the company’s services, especially supporting services in the mining service industry,” MYOH management stated.
Furthermore, the company believes that this acquisition will strengthen its financial performance and expand the company’s business coverage, ultimately diversifying business risks.
Initially, Damai Investama Sukses held 570,798,000 shares, or 37.79 percent of TRJA. For the purpose of this transaction, Damai Investama Sukses acquired 270,120,000 TRJA shares from October 24 to November 24, 2023, now holding a total of 663,468,000 shares, or 43.93 percent of TRJA.
Meanwhile, MSJ Investama Abadi holds 454,080,000 shares, or 30.068 percent of TRJA.
