PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeover of PT Andalan Satria Lestari worth Rp8.70 billion.
Hermawan Tarjono, Director of Dian Swastatika, said the acquisition is held by DSSA's unit dubbed PT Bumi Kencana Eka Sejahtera. Bumi Kencana bought 87,000 shares issued by Andalan Lestari on February 15 2012.
Andalan Lestari owns eight subsidiaries that pocket coal exploration permit at Musi Bayuasin, South Sumatra.
Disclosure: No position at the stock mentioned above.
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