Jakarta – PT Petrindo Jaya Kreasi Tbk (CUAN), owned by Prajogo Pangestu, is expanding its business horizon by acquiring additional coal mines. This time, CUAN has taken over the shares of PT Borneo Bangun Banua Bestari (B4) and PT Borneo Bangun Banua (B3).
As revealed in a disclosure to the Indonesia Stock Exchange (BEI), CUAN’s Corporate Secretary, Robertus Maylando Siahaya, shared that CUAN has completed the purchase of 60,000 shares, or a full 100% ownership, in B4 from PT Lamiplagema Perkasa (LP) and an individual named Maichiardshen.
Furthermore, CUAN has finalized a share purchase agreement for the outright sale of 30% of the shares in B3, equating to 299 shares or 29.9% ownership held by LP, alongside a single share or 0.01% held by Maichiardshen.
“Following the fulfillment of all conditions outlined in the final share purchase agreement, the signing of the sale documents will proceed,” Robertus stated on Wednesday (15/5/2024).
With the completion of this transaction, CUAN will directly own all shares in B4 and, indirectly, in B3. B3 is recognized for holding a Coal Mining Business License (IUP) in Central Kalimantan, with B4 owning 99.9% of shares in B3.
Robertus emphasized that this acquisition aligns with CUAN’s strategic plan to grow the company by enhancing its assets, expanding business operations, and boosting coal production capacity.
He believes that this strategic move will generate additional value for CUAN’s stakeholders in the future, showcasing the company’s continued focus on strengthening its position in Indonesia’s coal industry.
