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ISSUER NEWS - JAKARTA. PT United Tractors Tbk (UNTR) is once again setting its expansion agenda. This time, the subsidiary of PT Astra International Tbk (ASII) is preparing to acquire a geothermal company. This action is carried out through UNTR's business entity, PT Energia Prima Nusantara (EPN).
Through EPN, UNTR will acquire PT Supreme Energy Rantau Dedap (SERD). United Tractors' Corporate Secretary, Sara K. Loebis, stated that this action is carried out through the purchase of 163,136 series B shares owned by MeriT Power Holdings B.V (MeriT) and 94,313 series B shares owned by Inpex Geothermal Ltd. (Inpex) in SERD.
On March 1, 2024, EPN signed a sales agreement with MeriT, Axia Power Holdings B.V., Tohoku Power Investment Company B.V., and Inpex for the planned share sale in SERD. The total value of this transaction is US$ 80.69 million or equivalent to IDR 1.26 trillion.
"The total value of the transaction can change at the time of transaction completion due to adjustments to the financial report position at the closing of the transaction," said Sara in an information disclosure, Tuesday (5/3).
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Sara emphasized, the completion of the share sale by EPN is subject to the fulfillment of preliminary conditions as stipulated in the sales agreement, including approval from SERD shareholders. After signing the sales agreement, the parties will use reasonable efforts to fulfill the preliminary conditions before the agreed end date of the settlement.
"The purpose of signing this sales agreement is for the continuation of the Company's business diversification as part of a sustainable growth strategy in the field of power generation that uses renewable energy sources, especially geothermal," Sara revealed.
For information, PT Supreme Energy Rantau Dedap was established in 2008 as a company that holds a Geothermal Permit for the Geothermal Working Area (WKP) Rantau Dedap. The WKP is located in Lahat Regency, Muara Enim Regency and Pagar Alam City, South Sumatra.
