Indika Energy acquires MBSS
Thursday, April 7 2011 - 01:01 AM WIB
Indonesia-listed integrated energy firm PT Indika Energy Tbk announced Wednesday that it executed its option to acquire a majority 51 % stake of PT Mitrabahtera Segara Sejati (MBSS), an integrated coal transport & logistics services company from the Prasatya family, pursuant to the Option Agreement dated November 29, 2010.
PT Indika Energy Tbk, through its wholly owned subsidiary, PT Indika Energy Infrastructure paid total consideration of approximately US$167.78 million, the company said in statement.
?The completion of the MBSS acquisition will further strengthen Indika Energy?s foothold in the energy sector in the areas of resources, services and infrastructure. We expect the acquisition will further enhance our ability to provide a full range of services to the entire coal value chain as well as provide operational synergies. Our immediate task is to have our two management teams integrate and map out our combined strategic plans,? Co-CEO Indika Energy, Wishnu Wardhana said. (denny)