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United Tractors (UNTR) Acquires Another Nickel Mine Anugerah Surya Pacific Resources

UNTR

Wed 01 Nov 2023, 12:00 PM

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PT United Tractors Tbk (UNTR) through its subsidiary, PT Danusa Tambang Nusantara (DTN), has acquired another nickel company. This time, UNTR acquired PT Anugerah Surya Pacific Resources.

On October 16, 2023, Danusa Tambang Nusantara signed a conditional shares sale and purchase agreement (CSPA) with three companies, including PT Kalira Pascama (KP), PT Bintang Prima Investama (BPI) and PT Anugerah Dayakaya Angkasa (ADA).

UNTR Corporate Secretary Sara K. Loebis stated that the purpose of this corporate action is to add to the company's business portfolio. Which, this is part of the diversification strategy and business sustainability of the United Tractors group.

"The impact is that there is a balance between business activities related to coal and non-coal ones," Sara told Kontan.co.id, Thursday (26/10).  

She revealed, after the signing of the CSPA, currently the parties involved are still in the process of fulfilling the conditions precedents that must be completed. "We are unable to provide further information regarding when this process will be completed," she said.

But unfortunately, UNTR also cannot open up regarding future plans after the acquisition. Sara only said that this would be conveyed later after this transaction was completed.

For information, PT Anugerah Surya Pacific Resources is a limited liability company domiciled in Jakarta which is engaged in holding company activities for nickel mining companies and other nickel-related business activities.

The total value of the transaction amounted to USD 104.91 million or equivalent to IDR 1.64 trillion.

Previously, UNTR had also tried the nickel business. Still through Danusa Tambang, UNTR completed a transaction with Nickel Industries Limited (NIC) for the acquisition of 857 million new ordinary shares issued by NIC on September 21, 2023. The total transaction value reached USD 942.7 million.

Image source: UNTR

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