Renuka acquires coal firm
Saturday, July 12 2014 - 02:17 AM WIB
By Romel S. Gurky
IDX-listed coal mining company PT Renuka Coalindo Tbk announced Friday it has acquired 90 percent stake in PT Surya Global Makmur.
Renuka said that Surya Global operates a 2,600-hectare coal concession in Sarolangun, Jambi.
The company added that the acquisition was made by its subsidiary PT Bandarqah Mandiangin Internasional. The sale and purchase agreement of the Surya Global shares was signed in May of this year, and approved by the Ministry of Law and Human Rights on June 23.
Editing by Reiner Simanjuntak