PTBA acquires mining services firm
Friday, January 30 2015 - 03:56 AM WIB
By Romel S. Gurky
IDX-listed coal giant PT Bukit Asam Tbk (PTBA) announced Thursday that its subsidiary PT Bukit Multi Investama has acquired a 95 percent stake in mining services firm PT Satria Bahana Sarana (SBS).
PTBA said in a statement that the acquisition value of SBS was about Rp 48 billion.
The company added that the acquisition was part of the company?s diversification strategy and efforts to cut down production costs.
SBS has been engaged in coal mining services since 2008 serving clients in Tarakan, North Kalimantan Province, and in Muaro Bungo, Jambi Province.
Editing by Reiner Simanjuntak