UFS, DSS extend long-stop date of proposed acquisition
Monday, July 7 2014 - 04:23 AM WIB
SGX-listed United Fiber System (UFS) said Monday it reached agreement on Friday with IDX-listed PT Dian Swastatika Sentosa Tbk (DSS) to extend the long-stop date for the proposed acquisition of shares in coal mining firm PT Golden Energy Mines (GEMS) from the latter to March 31, 2015 pending the completion of various conditions.
UFS said in a statement that the two have also agreed to change other terms of the original share purchase agreement a consequent of the extension of the long stop date.
UFS plans to acquire about 67 percent shares of GEMS from DSS for S$1.8 billion.
UFS also said that it is currently in talks with subscribers to extend cut off date for planned bonds issue.
Editing by Reiner Simanjuntak