Mitra Investindo acquires stake in Goldwater
Friday, March 14 2014 - 03:21 PM WIB
IDX-listed PT Mitra Investindo Tbk announced on Friday that it has entered into a Conditional Sales and Purchase Agreement (CSPA) with Interra Resources Limited and Goldwater LS Pte. Ltd on share acquisition.
Pursuant to the CSPA, signed on Friday, the company agrees to purchase 90 shares owned by Interra in Goldwater representing 90 percent of the total issued and paid-up capital in Goldwater with the purchase price of US$13,500,000.
Goldwater is a limited liability company wholly owned by Interra. Goldwater has a wholly-owned subsidiary company, IBN Oil Holdico Ltd. which has 100 percent interest in Linda Sele TAC belonging to state owned oil and gas firm PT Pertamina (Persero).
IBN is the sole operator in Linda Sele located in West Papua. As per 2013, the total gross production of Linda Sele is 72,667 barrel.
The source of funds for the purchase price shall be derived from the proposed Rights Issue I scheduled for June 2014.
Editing by Johannes Simbolon