DSSA, UFS delay signing of definitive document on GEMS? acquisition
Wednesday, March 7 2012 - 10:47 AM WIB
Indonesia?listed energy and infrastructure company, PT Dian Swastika Sentosa Tbk (DSSA) announced on Wednesday that the plan to sign a definitive document between DSSA and United Fiber System Ltd (UFS) over the latter?s plan to acquire shares in PT Golden Energy Mines Tbk (GEMS), a subsidiary of DSSA, was postponed.
The two companies previously planned to sign the definitive document on March 7. In its report to the IDX, the DSSA says the signing of definitive document is slated to take place on April 30.
The company said that the postponement was made as the GMR Coal Resources Pte., Ltd which holds 30 percent stakes in GEMS submitted letter stipulating its interest to be involved in the planned transaction.
GEMS owns four producing and six non-producing thermal coal concessions in Sumatra and Kalimantan.
Editing by Adianto P. Simamora