Corporate Acquisition Picks Up Momentum

Many corporations seem to actively pursue acquisitions as part of their strategy for continued organic expansion.

Ibad Durrohman & Annisa Kurniasari Saumi

22 Apr 2024 - 17.56
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Corporate Acquisition Picks Up Momentum

Corporate actions illustration, including mergers and acquisitions / Freepik.com

Bisnis, JAKARTA — Several companies are adopting aggressive approaches to expand their operations through the acquisition of promising firms, seen as a strategy to broaden their business portfolios.

The latest move in this direction comes from PT Elang Mahkota Teknologi Tbk. (EMTK), which has announced its intentions to acquire PT Cardig Aero Services Tbk. (CASS). This acquisition will be executed by EMTK through its subsidiary, PT Roket Cipta Sentosa (RCS).

EMTK, in its disclosure to the Indonesian Stock Exchange (IDX), revealed that RCS and Cemerlang Pte. Ltd. have signed a conditional share sale and purchase agreement for the acquisition of approximately 9.85% of CASS shares, totaling 205.63 million shares.

Furthermore, RCS has also finalized share sale and purchase agreements for the acquisition of 492.12 million CASS shares from PT Cardig Asset Management (CAM) and 366.58 million CASS shares from PT Dinamika Raya Swarna (DRS).

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.