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.
UNTR acquires coal company in $51m deal
JAKARTA: Publicly listed heavy equipment distributor PT United Tractors (UNTR) announced on Monday that its subsidiary PT Tuah Turangga Agung has reached a deal to take over 100 percent stake in PT Borneo Berkat Makmur for US$51 million
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!
J
AKARTA: Publicly listed heavy equipment distributor PT United Tractors (UNTR) announced on Monday that its subsidiary PT Tuah Turangga Agung has reached a deal to take over 100 percent stake in PT Borneo Berkat Makmur for US$51 million.
In a file submitted to the Indonesia Stock Exchange (IDX), UNTR said that Tuah Turangga and Borneo Berkat signed a conditional sales and purchase agreement on Aug. 9.
Borneo Berkat holds 60 percent stake in PT Puranti Jaya Utama, which has coal mining concession of 4,800 hectares in Kapuas Tengah district, Kapuas regency, Central Kalimantan.
“The completion of the transaction will depend on the fulfillment of all requirements stated in related laws,” UNTR corporate secretary Sara K. Loebis said in the file.
