Trada completes acquisition of E. Kalimantan coal mine
Friday, December 22 2017 - 11:36 AM WIB
IDX-listed PT Trada Alam Minera Tbk announced on Friday it had on December 30 signed share sale and purchase agreements with the shareholders of PT Semeru Infra Energi (SIE) and PT Black Diamond Energy (BDE), which own East Kalimantan coal mining firm PT Gunung Bara Utama (GBU).
Trada, formerly known as PT Trada Maritime Tbk which primarily engaged in shipping, acquires GBU as part of strategy to switch core business into the mining sector. As has been previously reported, the company was seeking to acquire 99.99 percent shares in SIE and BDE.
The company said in a statement that it made the transactions worth totaling Rp 546 billion with the following shareholders of the two aforementioned companies.
Share sale and purchase agreements were signed with SIE shareholders including with PT Graha Resources for the acquisition 1.52 billion SIE shares worth Rp 151.5 billion; with PT Gosyen Berkat Utama for the acquisition of 1.52 billion SIE shares worth Rp 151.5 billion; with PT Paridaeza Bara Abadi for the acquisition of 1.01 billion SIE shares worth Rp 101 billion; and with PT Pisson Unggulan Utama for the acquisition of 409.99 million SIE shares worth Rp 41 billion.
Trada also signed share sale and purchase agreements with shareholders of BDE including with individual by the name of Hem Hidayat for the acquisition of 950,000 BDE shares worth Rp 95 billion; and with an individual by the name of Alfian Pramana for the acquisition of 50,000 BDE shares worth Rp 5 billion.
On December 5, Trada announced it has completed the acquisition of a 50.10 percent stake in IDX-listed PT SMR Utama Tbk (SMRU), which owns coal mining contractor PT Ricona Abadi, from PT Lautan Rizky Abadi in a transaction worth Rp 3.13 trillion.
GBU operates a 5,350 ha coal concession in Kutai Barat Regency, East Kalimantan Province. The mine has reserves of 64.85 million tons, and resources of 264.04 million tons, with calorific value of 5,200 Kcal ? 5,400 Kcal/kg ARB.
Editing by Reiner Simanjuntak