PT Petrosea Tbk (PTRO) through its subsidiary PT Karya Bhumi Lestari (KBL) announced the success of buying a 100 percent stake in PT Kemilau Mulia Sakti (KMS).
President Director of Petrosea, Romi Novan Indrawan said the acquisition transaction was recorded to have a total value of US$90,563,572, which was marked by the signing of the sale and purchase deed last Friday (23/6).
"This transaction is a realization of Petrosea's diversification into a mine owner in order to strengthen the company's performance and provide added value to shareholders and all other stakeholders in the future," said Romi.
Romi added, Petrosea's next step is to become a sustainable resource company , in line with its business diversification operations into other mineral sectors through the provision of mining and engineering services, as well as procurement and construction (EPC) on an ongoing basis.
To note, KMS is the owner of 99 percent of the shares of PT Cristian Eka Pratama (CEP) which is engaged in coal mining operations, as well as the holder of a Mining Business Permit - Production Operation (IUP-OP) with an operational area in Tering District, West Kutai Regency, East Kalimantan.
Image source: Petrosea Archives
