Aug 4, 2010

Rukun Raharja completes acquisition

PT Rukun Raharja Tbk (RAJA) has closed the acquisition deals of three  related gas companies worth Rp650 million on June 30 2010.
Rukun Raharja has formally acquired 99.99% stakes in PT Capital Turbines Indonesia (CTI), 99.98% stakes in PT Panji Raya Alamindo (PRA), and 99.98% stakes in PT Triguna Internusa Pratama (TIP).
RAJA's President Director Budiman Parhusip said the acquisition deal closing is scheduled on August 3 2010. "RAJA had signed conditional sale and purchase agreement on May 14 2010 and closing agreement on June 30 2010," he said.
According to the sale and purchase agreement, the stakes transfer of CTI, PRA, and TIP still requires approval from their creditors. 

Disclosure: No position at the stock mentioned above.

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