United Tractors (UNTR) Acquires PSAB Gold Mine in IDR 8.85 Trillion Deal
Mon 15 Sep 2025, 12:19 PM
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PT United Tractors Tbk (UNTR) announced its plan to acquire shares in two gold mining entities through its subsidiaries. The transaction was conducted on September 12, 2025, with an enterprise value of USD 540 million, or approximately IDR 8.85 trillion.
In this transaction, PT Danusa Tambang Nusantara (DTN), a subsidiary of UNTR, signed a Conditional Sale and Purchase Agreement with PT J Resources Nusantara Tbk (PSAB). The agreement covers the purchase of a 99.99996% stake in PT Arafura Surya Alam (ASA), which is engaged in gold mining.
Additionally, PT Energia Prima Nusantara (EPN), another UNTR subsidiary, also signed a similar agreement with Jimmy Budiarto. EPN plans to purchase a 0.00004% stake in ASA and a 0.2% stake in PT Mulia Bumi Persada (MBP) owned by Jimmy, where MBP is a company jointly owned by ASA and Jimmy.
The enterprise value of USD 540 million includes the share purchase, the value of the shareholder loan from JRN to ASA, and will be adjusted based on ASA's balance sheet conditions at the time of the transaction's completion. The completion process is targeted to be no later than December 23, 2025, or another time as agreed upon by the parties.
"The purpose of this Transaction Plan is to expand the company's business in the mineral sector," as stated in the IDX information disclosure, quoted on Monday (September 16, 2025).
Furthermore, the Astra group issuer has a hedging strategy in place to maintain the stability of gold selling prices from its mining business line. With this strategy, the company hopes to minimize the risk of commodity price fluctuations in the global market.
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