Published on 07/03/2024 at 05:45 GMT+7 Reading time
A business entity of PT United Tractors (UNTR) has signed a share purchase agreement of a geothermal company worth US$80.69 million, equivalent to Rp1.27 trillion.
United Tractors Corporate Secretary Sara K. Loebis said UNTR's business entity, PT Energia Prima Nusantara (EPN) signed a share purchase agreement for PT Supreme Energy Rantau Dedap (SERD) worth US$ 80.69 million.
"The company hereby informs that on 1 March 2024, PT Energia Prima Nusantara has signed a Sale and Purchase Agreement with MeriT, Axia Power Holdings B.V., Tohoku Power Investment Company B.V., and INPEX, for the planned sale and purchase of shares in SERO for a total value of US$ 80,691,700 or equal to Rp1,266,859,690,” Sara said in a statement on Thursday, February 7, 2024.
“Completion of the sale and purchase of shares by EPN is subject to the fulfilment of the conditions precedent as stipulated in the Sale and Purchase Agreement including approval from SERO shareholders," she added.
Detail of the transaction as follow: The company will purchase 163,136 of series B shares owned by MeriT Power Holdings B.V. ("MeriT''); and 94,313 of series B shares owned by Inpex Geothermal Ltd. ("INPEX"} in PT Supreme Energy Rantau Dedap.
Completion of the sale and purchase of shares by EPN is subject to the fulfilment of the conditions precedent as stipulated in the Sale and Purchase Agreement including approval from SERO shareholders.
After signing the Sale and Purchase Agreement, the parties will use reasonable efforts to fulfil the condition precedents before the closing date agreed by the parties.
The purpose of signing this Sale and Purchase Agreement is to continue the company's business diversification as part of a sustainable growth strategy in the field of electricity generation that uses renewable energy, especially geothermal.
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