Indonesia Miner
Welcome to Indonesia Miner
Home / Directory / List News / Detail News

Astrindo Nusantara Infrastruktur to acquire PTT Mining for USD 471 million

www.idnfinancials.com

Tue 02 Aug 2022, 09:35 AM

Share

Events

PT Astrindo Nusantara Infrastruktur Tbk (BIPI), an oil and gas mining company, has signed the share purchase agreement (SPA) regarding the takeover of PTT Mining Ltd, Hongkong (PTTML) from PTT International Holdings Limited and PT Sintesa Bara Gemilang.

Kurniawati Budiman, Corporate Secretary of BIPI, confirmed that the SPA was signed by the representatives of the company, PTT International, and Sintesa Bara Gemilang on August 1, 2022. In said agreement, the value of this acquisition is said to arrive at USD 471 million.

“The direct impact of the PTTML acquisition by Astrindo is that the financial performance in 2022 will record an upturn as the coal price increases,” Budiman stated in the information disclosure in Indonesia Stock Exchange (IDX).

For the record, PTT International is in total control of PTT, a Thailand-based energy company. PTT focuses on the natural gas mining, gas transmission, infrastructure, and investment. Meanwhile, PTTML reportedly owns concession of coal mines located in Brunei Darussalam, Madagascar, and Kalimantan. On the other hand, Sintesa Bara Gemilang is a company under BIPI, directly owned through Astrindo Mahakarya Indonesia.

Source: 
https://www.idnfinancials.com/news/43868/astrindo-nusantara-infrastruktur-acquire-ptt-mining

Image source: www.idnfinancials.com

Source Link: https://www.idnfinancials.com/news/43868/astrindo-nusantara-infrastruktur-acquire-ptt-mining

Advertisement

Relate News

News
02 Apr 2023, 12:00 PM

United Tractors (UNTR) Gold Mine in Sumbawa is Targeted to Operate in 2024

industri.kontan.co.id
5042 Views
News
18 Jan 2025, 11:12 AM

Petrosea and Vale Enter IDR 16 Trillion Contract for Nickel Mining in Morowali

palu.tribunnews.com
1667 Views
News
18 Jan 2023, 08:00 AM

Nickel Industries set to raise $471 mln to buy nickel assets

www.reuters.com
3778 Views
News
01 Feb 2024, 12:00 PM

Hyundai-LG EV Battery Plant Completed This Year

Toyota
3937 Views
Hello! We would like to talk to you.Please fill the details below to start chatting with us.