Aug 5, 2011

KIJA buys Banten West &Tanjung Lesung

Property developer PT Kawasan Industri Jababeka Tbk (KIJA) has entered into agreement to acquire 100% stake in PT Banten West Java Tourism Development and 21.63% stake in PT Tanjung Lesung Leisure Industry at consideration price of Rp1.5 trillion.
In an official statement filed to Indonesia Stock Exchange today, Jababeka President Director Setyono Djuandi Darmono said Jababeka will acquire Banten West Java from Green Emerald Investments Ltd, PT Nusansa Duta Pratama, PT Bima Sakti Inti Pratama, PT Sapta Manunggal Investama, PT Tanjung Lesung Paradise, Bramelis Investment Ptd Ltd, and Meadwood Capital Ltd. 
Jababeka also intends to buy 21.63% stake in PT Tanjung Lesung Leisure Industry from PT Sapta Manunggal Investama. However, he didnot mentione the purpose of the acquisitions.
Djuandi Darmono said the accomplishment of the acquisition will depend on the fulfillment of several conditions as mentioned in the aggreement and shareholders approval. 

Disclosure: No position at the stock mentioned above.

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