KONTAN.CO.ID - JAKARTA. PT Petrindo Jaya Kreasi Tbk (CUAN) has received shareholder approval to acquire PT Petrosea Tbk (PTRO). The approval from the shareholders was obtained at the Extraordinary General Meeting of Shareholders (EGMS) on February 12, 2024.

Petrindo Jaya's assets' value after the PTRO acquisition is projected to reach IDR 13.4 trillion, up from IDR 2.3 trillion. Meanwhile, equity increased from initially IDR 1.8 trillion to IDR 4.5 trillion. Liabilities also increased to IDR 8.9 trillion.

“This acquisition is part of the company's long-term strategy, to increase the company's assets and the long-term business development of the Group into an integrated mining and mining services company," said Michael, CEO of Petrindo Jaya in his official statement, Wednesday (14/2).

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He hopes that the planned acquisition transaction can improve operational performance to be more efficient and effective by integrating operations and strengthening the company's business portfolio in the coal mining, gold, nickel, gas, and infrastructure sectors that have been fully operational.

The EGMS has approved CUAN to acquire 342.92 million PTRO shares owned by old PTRO shareholders, namely PT Caraka Reksa Optima. This number represents approximately 34% of all shares placed and fully paid in PTRO.

The acquisition will be done through Petrindo Jaya's subsidiary, PT Kreasi Jaya Persada. After the acquisition, CUAN will become the sole controller of PTRO.

In addition, as of September 2023, CUAN has posted an operating profit of IDR 501 billion and a net profit of IDR 460 billion.

The EGMS also confirmed the new CUAN Board of Directors, Kartika Hendrawan as Chief Financial Officer. Before joining CUAN, Kartika was the CFO of Sirclo. She has also been the Investment Director of PT East Spring Investments Indonesia. Currently, she also serves as an Independent Commissioner of PT BNI Modal Ventura. 

Editor: Syamsul Azhar