UFS awaits approval to acquire DSS coal unit
Friday, November 28 2014 - 01:12 AM WIB
By Romel S. Gurky
SGX-listed United Fiber System (UFS) announced Thursday that IDX-listed PT Dian Swastatika Sentosa Tbk (DSS) will hold a general shareholders meeting on December 1 to among others seek approval for the proposed acquisition of the latter?s coal mining subsidiary by UFS.
UFS plans to acquire about 67 percent shares in coal mining firm PT Golden Energy Mines (GEM) from DSS for S$1.8 billion to March 31, 2015 pending the completion of various conditions.
Editing by Reiner Simanjuntak