Sep 4, 2010

Indika takes over Satya Mitra Gas

Parent company of coal miner PT Kideco Jaya Agung, PT Indika Energy Tbk (INDY), has taken over shares in of PT Satya Mitra Gas through its subsidiaries of PT Indika Energy Infrastructure and PT LPG Distribusi Indonesia.
In the information disclosure to Indonesia Stock Exchange, Corporate Secretary  PT Indika Energy Dedy Happy Hardi, said that the takeover price of Satya Mitra Gas’ shares including soil, equipments, machines, and buildings worth Rp5.37 billion.
"Satya Mitra Gas is a limited company that working in the filling of LPG bulk,” he said.
The purchase price range, Dedy continued, did not have materials value as stipulated in Bapepam-LK regulation No. IX.E.2.about Material Transactions and Alteration of Main Business Activity.

Disclosure: No position at the stock mentioned above.

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