[CATEGORY: FINANCIAL]
PT Darma Henwa Tbk
announced that on June 28, 2016, it signed a Sale and Purchase Agreement (SPA)
with PT Putra Sukses Sentosa (PSS) to acquire PSS' 99.5 percent interest in PT
Rocky Investment Group.
The value of the acquired
interest is Rp 50.5 billion. The purchase is netted off against the outstanding
debt owed by Lennette Limited to Darma Henwa, the firm said but stopped short
of explaining , the relation between PSS and Lennette.
The firm said the reason
behind the deal is that on Jan. 27, 2014, Darma Henwa sold its ownership in PT
DH Energy (DHE) to Lennette, which was part of the firm's divestment of
non-core assets. Over time, since Lennette's outstanding debt to Darma Henwa
remains huge, that the latter decided to acquire back its ownership in PT
Pendopo Energi Batubara (PEB) through Rocky and PSS. Following the acquisition,
Lennette's outstanding debt to Darma Henwa has declined from US$ 10.6 million
to $ 3.8 million.
All complete data can be seen at www.tender-indonesia.com
(The source of the Indonesia Oil and Gas,
Mining, Electricity, Infrastrcuture, Telecommunication tender project and
tender award)
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