Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 60% shareholding in PT Duta Nurcahya.
Under the agreement, which was signed on August 15, Tuah Turangga has to require several conditions prior to complete the take over.
Duta Nurcahya is a coal miner with concession located in Hurung village, Juju Baru, North Barito, Central Kalimantan. Duta Nurcahya manages 4,999 hectares of coal concession.
However, United Tractors' Corporate Secretary Sara K. Loebis hasn't disclosed the takeover price.
Disclosure: No position at the stock mentioned above.
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