Rukun Rahaja plans $100m acquisition
Monday, April 5 2010 - 06:37 PM WIB
IDX-listed firm PT Rukun Raharja Tbk said it would spend around US$100 million to acquire three energy firms including one that owns a power plant.
The Company said in a report filed with the IDX on Monday that it would acquire shares of PT Suryandra Nusa Bhakti which business in LPG filling stations and LPG distribution, gas pipeline and gas compressor PT Triguna Nusa Pratama and PT capital Turbin Indonesia which operates a 2x22MW power plant in Bintan Island.
The Company said it has signed MoU with target companies on April 1, 2010 and said it would finance the acquisition through issuance of debt instrument. (alex)