Jun 17, 2011

Trans to spend Rp37 bio to buy Anta Tour

PT Trans Lifestyle will spend Rp37.05 billion to acquire 123.5 million shares of PT Anta Express Tour & Travel Service Tbk at Rp300 as one of the phases to go private.
The amount of the shares represents 21.67% of its enlarged capital. Trans Lifestyle prepared Rp37.10 billion to fund this corporate action.
Anta Express, a unit of PT Trans Lifestyle, which is a member of Para Group, announces its plan to go private in August 2011.
The company revealed the decision to delist its shares because the stock trading was not liquid. The company also has no plan to access capital market.
The tour and travel service company received approval for such corporate action at shareholders' meeting on June 16, 2011.
The tender offer is set for July 6, 2011 to August 5, 2011, while the payment is scheduled on August 10, 2011.
Trans Lifestyle controlled 78.33% of Anta Express ownership. Established in 1972, the company is a leading tour and travel operator in Indonesia. Anta operates five branches throughout Indonesia.

Disclosure: No position at the stock mentioned above.  

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