TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsAstra to acquire warehousing firm Mega Manunggal Property
Publicly listed conglomerate PT Astra International (ASII), through its subsidiary PT Saka Industrial Arjaya (SIA), is set to acquire an 83.67-percent stake of warehouse company PT Mega Manunggal Property (MMLP).
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Leading conglomerate: The headquarters of Astra International (ASII) are pictured in an undated photograph. (Astra/-)
P
ublicly listed conglomerate PT Astra International (ASII), through its subsidiary PT Saka Industrial Arjaya (SIA), is set to acquire an 83.67-percent stake of warehouse company PT Mega Manunggal Property (MMLP).
SIA plans to purchase MMLP shares from PT Suwarna Arta Mandiri, which holds the largest stake at 49.2 percent, Bridge Leed Limited, which owns 17.51 percent, and several minority shareholders.
MMLP corporate secretary Jeremy Muliawan said the acquisition process had reached the stage of a conditional share purchase agreement (CSPA) on Monday.
“Completion of the transaction based on CSPA is subject to fulfillment of all conditions precedent in the CSPA. If the transaction based on CSPA is completed, such completion will result in the transfer of control over the Company to the Purchaser,” Jeremy stated in the company’s information disclosure released on Tuesday.
Following the transaction, SIA, as the new controlling shareholder, will conduct a mandatory tender offer in accordance with provisions set out in Financial Services Authority (OJK) Regulation No. 9/2018 on the acquisition of public companies and prevailing capital market regulations.
Astra International corporate secretary Gita Tiffani Boer also wrote in an information disclosure on Tuesday that the purpose of the transaction was to support SIA’s business development and investment.
Read also: Astra aims to launch more EVs in the next 2 years
