Thursday, January 15, 2015
UT Officially Acquires PT Acset Indonusa Tbk
JAKARTA: On Monday, January 5th 2015, UT through its subsidiary, PT Karya Supra Perkasa (“KSP”) has made a purchase of 200,000,000 shares, representing 40% of the total issued and fully paid shares in PT Acset Indonusa Tbk (“ACST”), from PT Cross Plus Indonesia (“CPI”) and PT Loka Cipta Kreasi (“LCK”). Closing ceremony of the shares purchase was held in Astra International and signed by Tan Tiam Seng Ronnie CPI Director, Hilarius Arwandhi LCK Director, Gidion Hasan KSP President Director, and Jeffrey Chandrawijaya KSP Director.
The acquisition process is a continuation of the Memorandum of Understanding ("MOU") which was signed on October 10, 2014 and Conditional Sale and Purchase of Shares Agreement ("CSPA") on December 18, 2014. Under the MOU and the CSPA, KSP plans to buy a minimum amount of 250.5 million ACST shares ("Majority Shares").