Rukun Raharja to acquire PDPDE Gas
Monday, October 22 2012 - 12:08 AM WIB
IDX-listed PT Rukun Raharja Tbk (RAJA) will acquire 51 percent shares of PT Perusahaan Daerah Pertambangan dan Energi Gas (PDPDE Gas) owned by PT Dika Karya Lintas Nusa.
The company said in a press statement over the weekend that the acquisition would be financed with its internal cash and bank loans.
In a report to the Indonesian Stock Exchange (IDX), the company said that by the acquisition it would increase its gas supply and expand its market share in South Sumatra.
The acquisition will also strengthen its downstream business, which is transportation and trading of natural gas. With the increase of gas sales - both in volume and value - the company expects to raise its profit.
Editing by Benget Besalicto Tnb.