Aug 13, 2010

Dian Sentosa closes Bungo acquisition

Publicly listed company PT Dian Swastatika Sentosa Tbk (DSSA), subsidiary of Sinarmas Group, has completed acquisition of coal mining company dubbed PT Bungo Bara Utama.
In a public statement to Indonesia Stock Exchange (IDX) last night, Dian Swastatika President Director L. Krisnan Cahya said, the acquisition deal has been done on August 10 2010 through its wholly owned subsidiary moving in the coal sector namely PT Kuansing Inti Makmur.
Kuansing Inti Makmur has agreed to acquire 99.8% stakes in Bungo Bara worth Rp7 billion.
DSSA yesterday was close unchanged at Rp7,650 per share with market capitalization of Rp5.89 trillion
DSSA stocks were traded at 106.28 times of price to earning ratio.

Disclosure: No position at the stock mentioned above.
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