Inovisi ventures into coal business
Thursday, November 18 2010 - 03:42 AM WIB
Indonesia-exchange listed firm PT Inovisi Infracom Tbk announced on Wednesday it has signed a conditional sales and purchase agreement to acquire 60 percent stake PT Goldchild Integritas Abadi (GIA) with value of about US$ 47 million.
GIA has two subsidiaries in the business of coal trading, provider of coal trading platform and turn-key project with right to extract 10 million tones of coal in South Kalimantan.
The company did not give further detail, but said transaction would be completed late this year. (denny)