Asti: Long stop date over acquisition of Cahaya Sakti extended

By Romel S. Gurky

SGX-listed investment holding company Asti Holdings Limited, which is engaged in designing, developing and manufacturing of semiconductor equipment, announced Monday that the long stop date for entering into definitive documents over planned acquisition of 51 percent of PT Cahaya Sakti has been extended.

The company said in a statement that the extension of the long stop date will allow the company and the seller more time to agree on the definitive terms of the proposed acquisition. No further details were provided.

Asti announced on October 17 it had signed a non-binding agreement with Ifachrul Madin for the former to acquire up to 55 percent stake in Cahaya Sakti, an independent power producer in Indonesia. Ifachrul owns 100 percent of the total issued share capital of Cahaya.

Editing by Reiner Simanjuntak